Commercial Bank In Exclusive Partnership With IKEA

Commercial Bank is the world’s biggest furniture retailer’s exclusive financial partner in Qatar

Qatar can enjoy the IKEA experience through Commercial Bank’s ‘Shop now… Pay later’ interest free payment service

Commercial Bank, one of the leading full service banks in Qatar, has entered into a strategic partnership with IKEA, the world’s largest furniture retailer, which has opened its first store in Qatar.

Commercial Bank has been selected to act as the exclusive financial partner to IKEA in Qatar and will offer a range of services within the new store. This includes Commercial Bank’s exclusive ‘Shop now….Pay later’ programme, which allows the Bank’s card members to pay for their IKEA furniture in up to 24 interest free installments.

Dean Proctor, EGM, Retail & Consumer Banking at Commercial Bank said, “The arrival of IKEA in Qatar has been eagerly anticipated for some time, and we are extremely happy to be the store’s exclusive financial partner. This is IKEA’s maiden store in Doha and we are delighted to have the opportunity to extend our ‘Shop now… Pay later’ scheme to the world’s best known furniture store. IKEA has greatly improved shoppers' lives around the world by fulfilling their needs and providing an unforgettable customer experience, through high quality design at reasonable prices that have become a hallmark of the brand. In turn, the store has created a big and growing base of loyal customers that have a strong affinity with the brand.”

Commercial Bank, as IKEA’s financial services partner, is offering new customers an opportunity to apply for a Commercial Bank Credit Card. ‘Shop now…Pay later ’at IKEA is an innovative feature that brings Commercial Bank credit cardholders the money-saving convenience of an interest-free installment plan of between 3 and 24 months, instead of paying the entire amount upfront. In addition, new customers who apply for a Commercial Bank credit card will receive a welcome bonus of 2,000 Accolades points, a Commercial Bank Rewards Programme, which is worth QAR 200 in gift vouchers.

Mr. Proctor added, “Customers can now furnish their home with IKEA's wide range of innovative and affordable products and household accessories while enjoying complete peace of mind. We will have a dedicated kiosk in the IKEA store where customers can apply for a Commercial Bank credit card on-the-spot. IKEA has immense experience in the Middle East region and we look forward to a long partnership that will benefit both Commercial Bank and IKEA customers.”

All Commercial Bank credit card holders including Diners Club, Visa or MasterCard holders can make purchases using their cards at IKEA and enjoy the benefit of paying back with interest-free monthly installments, comfortably spread over a period of time.