Cairo, 20 November 2024
Contact Credit, a subsidiary of Contact Financial Holding ,the leader in non-banking financial services, announced the launch of “Manasik,” a new financing program for Hajj and Umrah. The initiative aims to fulfill the aspirations of millions seeking to perform these sacred rituals, offering solutions that ease financial challenges and make the spiritual journey accessible to all.
Given the rising costs of these religious journeys and the economic pressures many faces, “Manasik” provides a flexible, Sharia-compliant financing option to overcome these barriers. The program enables individuals to pay for Hajj and Umrah through installment plans designed to meet diverse needs, ensuring a seamless and stress-free experience.
Key benefits of the program include a down payment starting from just 20%, financing of up to EGP 3 million, and flexible repayment plans of up to five years for Hajj and 12 months for Umrah. Customers will benefit from a fast and simple application process while enjoying peace of mind knowing the program adheres to Islamic principles, allowing them to focus on the spiritual essence of their journey.
Contact emphasized its commitment to offering tailored financing services that cater to individual needs while ensuring ease of access through its extensive network of over 74 branches across Egypt. This network, along with its newly established Dubai branch serving Egyptians in the UAE, ensures customers nationwide and abroad can access the program.
Tamer Samir, Managing Director of Contact Credit, stated: “We designed ‘Manasik’ to meet the increasing demand for Hajj and Umrah financing. This program offers innovative, customer-centric solutions with simple terms and procedures, accommodating the needs of all customers eager to visit the Holy Land. Its Sharia compliance ensures a financing option that aligns with our clients’ values.”
Said Zater, CEO of Contact Financial Holding, added: “The launch of ‘Manasik’ is a key milestone in our strategy to drive growth and diversify our financing solutions portfolio. It reflects our commitment to meeting the varied needs of our customers while helping them perform these profound religious obligations with ease and peace of mind. This step further solidifies our leadership in the Egyptian finance market, particularly in the consumer finance sector.”
Zater continued: “The program was developed following an in-depth study of market needs, especially given the rising costs of Hajj and Umrah. ‘Manasik’ embodies our dedication to providing innovative financial solutions that ease the burden on individuals, enabling them to focus on the spiritual essence of their journey without the stress of financial challenges.”
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