UAE - Abu Dhabi Islamic Bank (ADIB), a leading
Islamic financial institution, has launched its Electric Vehicle Finance
program “VOLT”, coinciding with World EV Day.
In line with ADIB’s commitment to promoting
sustainability and supporting the UAE's net-zero economy goals, the ADIB's
programme offers a highly competitive financing rate of 1.79%, one of the
lowest in the industry for new cars (EVs), said the bank in a statement.
Key highlights of Volt include, a financing
rate of 1.79%which is the lowest rate available in the market for passenger car
segment. With the flexibility to secure financing up to AED 1 million, ADIB
empowers customers to make eco-conscious choices while accommodating their
diverse automotive preferences.
Amit Malhotra, Global Head of Retail Banking at
ADIB, said: "We are proud to introduce “VOLT” – ADIB's Electric Vehicle
Finance programme, offering competitive preferential rate for customers to
adopt electric vehicles.
“VOLT is not just about financing; it
underscores the bank's dedication to environmental responsibility and
sustainability. By choosing ADIB for their car financing needs, customers can
be part of a broader effort to reduce carbon emissions and transition towards a
more sustainable future.”
In response to the growing global interest in
electric vehicles, and as part of ADIB's Environmental, Social, and Governance
(ESG) commitment, its Electric Vehicle Finance program is designed to encourage
consumers to reduce their carbon footprint by making EV ownership more
“VOLT” car finance is part of a series of
initiatives undertaken as part of ADIB’s commitment to sustainable development,
said the statement. The bank has announced that it has financed over $1.7
billion in green and sustainable finance, accelerating its sustainability
agenda in helping customers incorporate sustainable business practices into
their overall business strategy.