Green Car Finance Market Revs Up in the UAE

The green auto loan market has ramped up in the UAE. Two new players have launched eco-friendly car finance products to encourage customers to buy hybrid or electric vehicles. The recent development is part of the UAE’s 2021 Sustainability Vision.

Last week, National Bank of Fujairah unveiled its Green Auto Loan of up to Dh1 million for customers looking to finance environmentally friendly vehicles. The Emirates Islamic Bank also announced a new promotion on its sharia-compliant Green Auto Finance product for cars financing of up to Dh1.5m.