
Bahrain: Al Salam Bank launches auto financing in collaboration with BYD
This collaboration introduces an innovative financing solution that covers all major costs associated with owning a vehicle during the initial years, offering clients a seamless financing experience.
The offer, which runs until December 31, 2025, includes a variety of benefits which includes special price for all models, a three-year service package, one-year registration fees, battery warranty of 8 years or 200,000 kilometres, a vehicle warranty of 6 years or 150,000 kilometres, and a multi-year insurance coverage for three years.
Al Salam Bank offers this package at competitive prices with monthly instalment amount starts from BD83 (terms and conditions apply), enabling clients to finance their vehicles including its related operating recurring expenses over the next 3 years through a convenient installment plan.
Commenting on the occasion, Al Salam Bank head of retail banking Mohammed Buhijji said: 'This collaboration with BYD reflects our ongoing commitment to delivering integrated financing solutions that meet the aspirations of our clients and offer a flexible and practical banking experience. Providing a comprehensive offer that covers all costs associated with purchasing a vehicle allows our clients to own their cars with ease and convenience, which is the goal we strive for at Al Salam Bank through all our initiatives.'
Mohammed Adel Fakhro, director of Fakhro Motors, the exclusive distributor of BYD in Bahrain, said: 'We are proud of our partnership with Al Salam Bank in introducing this exceptional offer, which reflects our mutual commitment to providing integrated solutions that simplify the process of owning BYD vehicles – a brand that represents the future of sustainable mobility. We are confident that this initiative will enable Al Salam Bank clients to enjoy an outstanding driving experience supported by a comprehensive range of services and flexible financing terms.'
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

The National
an hour ago
- The National
New regulations could see Musk's Starlink finally come to UAE
The UAE's telecoms regulator is looking at new regulations that could pave the way for satellite operators such as Starlink to begin operations in the country. The Telecommunications and Digital Government Regulatory Authority said on its website that it wanted feedback for regulations to "regularise the current resale of satellite services". Once the TDRA finalises specifics for what it describes as a "category B" licence, the door would be opened for many businesses and entities to sell connectivity devices and services – paving the way for resellers of low-earth-orbit satellite internet communications devices such as Starlink. Under current regulations, only certain UAE entities with the current telecoms licence are permitted to provide these services. According to SpaceX, operator of Starlink, the service is "pending regulatory approval" in the UAE. A document posted this year to the TDRA's website showed that Starlink was granted a regulatory licence in 2024 that will last about 10 years for 'maritime satellite internet services'. In the Middle East, Starlink is available in Qatar, Yemen, Oman, Bahrain, Jordan and Israel, and is billed as bridging the connectivity gap in remote and desert locations. When it was introduced in Yemen, Starlink was said to be a way to break the Houthis' monopoly over telecom services. Jimmy Grewal, executive director Dubai-based marine electronics company Elcome International, said he was excited about the the opportunities presented during the public comment period. "The TDRA's open consultation is a welcome step that brings clarity to a fast-moving market and will accelerate the safe rollout of next-generation satellite connectivity across the UAE," he said. Mr Grewal said a detailed framework for resellers like Elcome will strengthen options, resilience and productivity for government, maritime, aviation and offshore energy sector workers seeking internet and communications connectivity. He said he was also prepared for the possibility of the regulations opening the door for Starlink access in the UAE. "As one of the first and largest Starlink resellers in the world, Elcome is keen to bring the benefits of Starlink to our home market once the new regulatory framework is in place," Mr Grewal said. The regulatory body is accepting public consultation until September 25.


Zawya
an hour ago
- Zawya
RAK Ceramics posts solid Q2 growth; revenue soars to $435m
RAK Ceramics, a leading ceramics and porcelain lifestyle solutions provider, has announced solid results for the first half with its total revenue soaring to AED1.6 billion ($435 million), up 2.9% over last year. Announcing the financial results for the six-month period ended June 30, 2025, the Ras Al Khaimah-based industrial group said its gross profit margin increased by 70bps to 40.2%, driven by enhanced operational efficiencies which have contributed to higher gross profit margin, reinforcing its market leadership. RAK Ceramic said its ebitda too for the first half increased by 2.9% to AED296.4 million, while its ebitda margin remained consistent at 18.5%. Its profit before tax in H1 increased by 13.1% to AED151.2 million from last year's figure of AED133.7 million, while its net profit after tax grew 1.2% YoY to AED115.2 million, compared to AED113.9 million last year. On its financial performance in Q2, RAK Ceramics said it has been strong, demonstrating the resilience of the business in the face of a tough macro-economic environment. Total revenue increased by 6.4% YoY to AED826.8 million as a result of strong demand from the UAE and Middle East as well as effective cost management, it stated. In Q2 2025, the gross profit margin increased by 110bps to 40.6% YoY, while its ebitda rose 17.5% to AED 160.8 million compared to AED136.9 million in the same period last year. The Emirati group's ebitda margins grew by 1.9% to 19.5%, up from 17.6% in Q2 last year. According to RAK Ceramics, the profit before tax increased by 45% YoY to AED86.7 million, compared to AED59.8 million last year, while the net profit after tax surged by 30.1% YoY to AED66.4 million, compared to AED 51 million in Q2 last year. Net debt position rose by AED120.6 million to reach AED 1.56 billion in Q2 2025, compared to Q1 2025, primarily driven by increased capital expenditure and working capital requirements, it added. The Ras Al Khaimah-based industrial major said its tiles revenue continued to grow in Q2, up 10.2% year-on-year to AED474.3 million, led by strong demand in UAE, with an increasing contribution from high-margin project and retail channels. Its faucets revenue continued to grow by 11.7% to AED122.3 million in Q2 2025, mainly driven by performance in Europe, KSA, and Africa. On the sanitaryware sector, the group said it had experienced a 3.6% growth in revenue, driven by strong demand in the UAE. However, its tableware division reported a decline in revenue of 7.9% to AED 84.9 million for Q2 2025. Despite the revenue decline, gross profit margin improved by 380 bps, supported by higher sales to the airline industry and premium hospitality projects, it added. Impressed with results, the board of directors have proposed an interim dividend distribution of 10 fils per share (AED99.4 million) for H1. On its robust performance, Group CEO Abdallah Massaad said: "We have delivered solid Q2 revenue growth alongside strong operational performance, a reflection of the strength and adaptability of RAK Ceramics across the globe." "Our ability to drive both volume and value growth in key markets, while successfully navigating regional headwinds, further underscores the effectiveness of our diversified strategy. Our teams have demonstrated resilience in adapting to local market conditions, leveraging growth opportunities in stableregions and implementing corrective measures where needed," stated Massaad. "The shift toward high-quality and innovative offerings isstrengthening our margin profile and reinforcing our competitive positioning. Our investments in advanced manufacturing capabilities, including upgraded facilities, continue to drive efficiencies and set new benchmarks for quality," he noted. "Looking forward, we're continuing to innovate our operations and accelerate initiatives that will strengthen our position in the market and continue to drive profitability across all divisions," he added.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


Zawya
an hour ago
- Zawya
India's Omega Seiki Mobility sets up e-vehicle assembly plant in Jafza
Omega Seiki Mobility (OSM), a leading Indian electric vehicle manufacturer, has launched its first international electric vehicle assembly plant in Jafza, planning to invest $25 million (AED 92 million) over the next five years to accelerate its global expansion and meet rising demand for low-emission transport in the region. Spanning 42,000+ sq ft, the first EV plant in Jafza will assemble OSM's range of electric two-and three-wheelers as well as handle storage and distribution of auto components and spare parts. The facility is expected to commence assembly by the end of 2025. Strategically positioned to serve export markets across the Middle East and Africa, the plant will create over 100 jobs in its initial phase and strengthen UAE-India trade in clean technology. Abdulla Al Hashmi, COO, Parks & Zones, DP World GCC, said: 'More manufacturers are turning to Jafza to tap high-growth markets across the Middle East, Africa and beyond. With the MENA EV market projected to reach $14.5 billion by 2029, driven by supporting government policies, rising demand and expanding infrastructure, this facility brings innovative mobility solutions closer to the region and underlines Dubai's role as a global hub for the automotive sector.' Uday Narang, Founder and Chairman of Omega Seiki Mobility, said: 'This launch is a proud moment for us and fitting that it comes on Indian Independence Day. Jafza gives us unmatched connectivity to more than 2 billion consumers and a business environment that enables speed, scale and sustainability. Through Dubai, we aim to make clean mobility accessible and commercially viable for partners across the Middle East and Africa.' While OSM's immediate focus is on electric vehicles, they also plan to introduce CNG-powered models for select African markets, recognising that in many regions CNG offers a practical clean-fuel bridge until EV infrastructure matures. OSM's product line includes the three-wheeler cargo OSM Rage+ and three-wheeler passenger OSM Stream, offering a range of up to 270 km, fast-charging and battery-swapping capabilities, as well as IoT technology that allows real-time tracking and fleet optimisation. With 160+ dealerships in India having sold over 20,000 vehicles already on Indian roads and certifications from key testing authorities like ICAT and ARAI, OSM is using Dubai as its global launchpad for clean transport solutions, the company said. - TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (