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Gulf African Bank offers car financing to customers in partnership with Toyota Kenya
Gulf African Bank has partnered with Toyota Kenya to enable its customers get loans to buy cars.
The bank’s corporate and SME customers will now get loans to purchase Hino trucks and buses, and Hilux single and double cab pick-ups. The strategic financing partnership aims at enabling purchases through diminishing Musharakah-based vehicle financing.
Under the Shariah financing model, both the bank and the customer contribute to the purchase of the vehicle creating co-ownership, where Gulf African Bank will extend financing up to 95% of the value of the unit. This arrangement will be repayable by the customer within a period of 60 months.
KenyaAnuj-medirattaGulf-african-bank-deputyToyotaGulf-african-bankAfrican-bankToyota-kenyaKenya-managing-directorArvinder-reelகேந்யடொயோட்டாடொயோட்டா-கேந்யGulf African Bank partners with Toyota Kenya to enable clients buy cars with loans of up to 95%
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Premier Shariah compliant bank, Gulf African Bank and Toyota Kenya have entered into a strategic financing partnership that will enable the bank’s Corporate and SME customers purchase Hino trucks and buses, and Hilux single and double cab pick-ups through diminishing Musharakah-based vehicle financing.
Under the Shariah financing model, the bank and the customer both contribute to the purchase of the vehicle creating co-ownership, where Gulf African Bank will extend financing up to 95% of the value of the unit, repayable by the customer within a period of 60 months.
KenyaKenyansAnuj-medirattaCorolla-crossSuzuki-brezzaGulf-african-bank-deputyGulf-african-bankToyota-kenyaKenya-managing-directorArvinder-reelToyota-starletகேந்யGulf African Bank In Partnership Deal With Toyota Of Up To 95%
By Soko Directory Team / Published April 15, 2021 | 11:56 am KEY POINTS
Gulf African Bank will extend
financing up to 95 percent of the value of the unit, repayable by the customer within a period of 60 months.
Gulf African Bank and Toyota Kenya have entered into a partnership that will enable the bank’s customers to purchase Hino trucks and buses, and Hilux single and double cab pick-ups through diminishing Musharakah-based vehicle financing.
Under the Shariah financing model, the bank and the customer both contribute to the purchase of the vehicle creating co-ownership.
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