Pakistan banks offer interest-free loans for Hajj, Umrah

[jamal]

Pakistan's leading Islamic bank Wednesday announced interest-free loans for the Haj and Umrah for those wishing to pay in instalments after performing the pilgrimage.

Towards this, Meezan Bank Ltd. has signed an agreement with leading tour operator Universal Express Pvt. Ltd. for providing Haj and Umrah travel facilitation during 2010.

As part of the deal, the travel packages will be available at Meezan Bank's 201 branches in 54 cities across Pakistan to help customers in performing the holy pilgrimmage, Online news agency reported.

"Meezan Bank will act as a sales and funds collecting agent on behalf of Universal Express (Pvt) Ltd and also provide interest-free instalment payment facility to those customers who may wish to avail the option of paying in instalments after performing the Umrah," it said in a statement.

"By offering this product, Meezan Bank has moved another major step in the direction of achieving its vision of making Islamic banking the banking of first choice," the statement added."

"At Meezan Bank, we are committed to providing you a complete range of Shariah-compliant banking services that are up to the highest professional standards," it said in a posting on its website.

Hajj/Umrah 2010 News