Financing
Will the profit rate of my Finance at Ithmaar Bank change after the financial migration?
No, your financing will be migrated seamlessly without any change to the commercial terms.
Will my instalment change after migration?
No, all commercial terms of your financing will remain unchanged.
What will happen to the ownership of the Car?
Nothing will be impacted. The car will remain jointly owned and registered in your name and the name of Ithmaar Bank.
Will I receive a new finance agreement to sign?
No, you will not be required to sign any document as the transfer is automated and seamless.
What will happen to my Benefit report after the financial migration?
Your benefit report will reflect your new exposure and status with Al Salam Bank.
Will my migrated finance or credit card show on my benefit report?
Yes, your migrated facilities will show in your Benefit report as new exposures under Al Salam Bank.
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