IslamicFinance.de

Bahrain Islamic Bank (BisB) launched the Tejoori Instant Finance service allowing customers to obtain instant finance within 5 minutes. According to BisB Chief Retail Banking, Dalal Al Qais, customers can get instant finance on amounts ranging between BD 200 and BD 2,000, which will be credited to their Saving or Current Account in less than 5 minutes. Customers will be required to pay upfront fees that vary between BD30 and BD70, depending on the required amount. They can choose a minimum tenor of three months up to a maximum tenor of 12 months to repay the amount with no profits. The monthly instalment will be deducted directly from the customer’s Tejoori account.