CLC Islamic Finance, the Islamic Banking Division (IBD) of Commercial Leasing and Finance, offers its latest service, Wadi’ah (Safe keeping) an alternative for conventional Gold loans.
This facility is introduced in two options such as the Safe Keeping, which allows the customers to store their Gold articles, and the Benevolent Loan facility, which provides an interest free loan for a set period.
With this service, customers have the choice of selecting the Safe Keeping option or avail both Safe Keeping and Benevolent loan facilities simultaneously. A nominal service charge will accumulate only for the Safe Keeping facility where as the Benevolent loan will not accrue any additional charges.
Commenting on the new product, Ilsam Awfer Head of the Islamic Business Division said, “We are indeed happy to address a long awaited need of customers by introducing the Safe Keeping facility. Now we are able to fulfil urgent cash needs of customers in different social segments through convenient product offerings coupled with additional benefits. At CLC Islamic Finance, we are committed to maintain the highest level of customer service while providing the most suitable solutions to our customers.”
“PledgingGold is the most viable option for an urgent cash need. Customers who seek this service look for safety and convenience. Our Safe Keeping solution is highly customer focused, as we want to ensure that our loyal customers are satisfied at the end of the day. With the pool of benefits this Safe Keeping option provides, we hope that this product will soon be embraced by the public.” said Thuvagar Asohan, Head of Gold Loan Business Unit said.
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