BMW partners with Saudi Arabia’s AQSAT for Shariah financing

BMW Financial Services has announced a partnership with AQSAT, the financial company of Mohamed Yousuf Naghi, to provide a Shariah-compliant financial package to BMW Group customers in the Kingdom of Saudi Arabia.

From the 28 April 2010, customers looking to purchase a BMW or MINI from Mohamed Yousuf Naghi Motors, BMW’s exclusive importer in the Kingdom, can avail of a new financial solution which will enable customers to directly finance cars as opposed to only leasing them.

Commenting on the new partnership, Mr. Helmut Maier, Vice President New Markets, Importer Finance for BMW Financial Services said: “With this partnership, we are enriching the BMW and MINI product offering by making financing easier for people to own their own cars in the Kingdom of Saudi Arabia.

“BMW Financial Services offers the safest insurance and warranty products specifically designed for our vehicles, providing customers with absolute peace of mind from the moment they drive their BMW or MINI out of the showroom. Our customers now have the option to finance their cars whether it’s a retail customer or a corporate client.”

Sheikh Mohammed Yousef Naghi, President and Chairman of AQSAT, said: “We are very pleased to offer our products under this partnership to our BMW and MINI customers, which comes with a comprehensive insurance plan to guarantee a better price and service to our customers. At Mohamed Yousuf Naghi Motors we always strive to offer a premium quality service, and this partnership with BMW Financial Services is evidence of our commitment both to the BMW Group and our customers.”

BMW Financial Services offers a wide range of finance solutions tailored to meet the needs of the BMW and MINI customer across the Middle East. The company also provides financing to BMW dealers and importers for expanding facility capabilities and enhancing overall operations.