Aafaq Islamic Finance introduces Recreational Vehicle Financing (RVF)

Aafaq Islamic Finance, a leading institution in the financial sector offering Sharia-compliant financial products and services across the UAE and the region, will be participating in Custom Show Emirates” exhibition in Dubai World Trade Center. This exhibition is expected to host 30,000 visitors from 17 countries around the world.

Aafaq Islamic Finance will exclusively introduce a unique Recreational Vehicle Financing (RVF) program that helps individuals, by provide financing to purchase different types of caravans, jet skis, desert dune buggies, mountain or sports bikes and other sports vehicles.

The financing options in this program offer low rates and competitive terms, and the value of recreational vehicle financing ranges from 10,000 AED to 300,000 AED, with a repayment period of up to five years.

Aafaq’s participation in this exhibition represents a valuable opportunity for visitors and participants to learn about Aafaq financial products and services specially designed to meet all business requirements while conforming to Islamic law.

In this context, Rashid Mahboob Al Qubaisi, CEO of “Aafaq Islamic Finance” said: “We are proud to participate in this important event, especially after the pandemic. The recovery in various sectors is thanks to the strict safety and prevention measures taken by our wise leadership.  The UAE is unique in the regional auto market for car enthusiasts and this exhibition, brings together the most prominent companies, producers and suppliers under one roof to see new industry innovations, conclude partnerships and get special deals to achieve their aspirations.”

Al Qubaisi added, “The exhibition features major international companies specializing in the field of additions and modifications to cars and motorcycles required for the economic recovery in the country. Our duty is to be present and support the national economy.”

The size of the car and bicycle modification sector in the UAE reached about 3.67 billion dirhams in 2019, and accounted for 50% of the total market size in the Gulf region, which is estimated at $ 2 billion with 600 car modification workshops that can benefit from Aafaq’s RVF Program.</p