Deutsche Gulf Finance Launches Their Shari’ah-Compliant “Cash-Out” Product

Aug. 9, 2010 - PRLog -- Deutsche Gulf Finance, a leading Shari’ah-compliant home finance provider, has launched an innovative product allowing consumers to unlock equity in their home and finance payments up to 30 years. The product is aimed at consumers seeking capital through financing their home for a variety of purposes including, but not limited to, investment in land, residential property or other important family initiatives requiring substantial amounts of capital. Financing rates for this program start at 2.99% and Deutsche Gulf Finance would finance up to 5,000,000 Saudi Riyals (subject to credit terms). The program is delivered in an entirely Shari’ah-compliant structure to meet the needs of Saudi homeowners.
"We are excited to officially launch a product which gives consumers flexible financing terms, delivered in an ethical and socially-responsible wrapper, to better manage household cash-flow. The equity release product will benefit a broad base of customers giving them the opportunity to utilize their most valuable asset (their home) as a financial tool. We expect that this product will allow families to afford a new home for their newly married sons and daughters, Said Fahad Abdullah Al Rajhi, Chairman at Deutsche Gulf Finance. DGF is comforted by the guidance of Sheikh Dr. Abdulrahman Al-Atram as Chairman of the Shari’ah Board" continued Al Rajhi.

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About Deutsche Gulf Finance
Deutsche Gulf Finance is a joint venture between Deutsche Bank and a group of prominent Saudi Arabian investors led by Fahad Abdullah Abdulaziz Al Rajhi. The company provides home finance solutions on residential properties for consumers in an entirely Shari’ah-compliant format. Deutsche Gulf Finance has commenced financing on completed residential properties for purchase, equity release, and investment to Saudi Nationals and Expatriates.
For more information about Deutsche Gulf Finance call (01) 216-9595 or visit www.deutschegulf.com