OREANDA-NEWS. Qatar Islamic Bank (QIB) has launched a Fleet and Heavy Equipment Financing package as part of its broad range of ‘Aamaly’ products specifically designed for the Small & Medium Enterprise sector.

QIB’s Fleet and Heavy Equipment Financing enables SMEs to get the right fleet to grow their business, whether that be for making deliveries, shipment and distribution, carrying equipment or any other purpose. It is designed to be a convenient way for companies to finance their fleet, allowing them to finance any kind of vehicles – cars, vans, buses, bulldozers, earth moving equipment, diggers or Lorries.

QIB offers different financing amounts to suit a variety of business needs, with competitive profit rates and no additional charges. Financing tenure can be up to 48 months with a grace period of 1-3 months, along with flexible down payments, a fast processing time and instalment options.

Tarek Youssef Fawzi, General Manager of QIB’s Wholesale Banking Group, explained that any SME in Qatar that is engaged in transportation, construction, contracting, rent-a-car, trading, the service sector or manufacturing activities, can benefit from the new financing package.

“QIB introduced its Aamaly products specifically tailored to sector-related packages to meet the different needs of SMEs starting with the key sectors of construction, trading and services, where they are eligible to receive discounted fees for letters of guarantee, for bid bond guarantees in the construction sector; discounted fees for export letters of credit in the trading sector; and reduced rates for Fleet and Heavy Equipment financing, as well as preferential rates for payroll services in the services sectors.

“We are committed to support the country’s economy through offering financing for all kinds of business. Our Aamaly product suite is designed to provide special services to the country’s SMEs, offering them financial benefits, guidance and advice. The importance of this service is in line with the Bank’s full support for the Qatar National Vision 2030”, he added.