Posted on September 21, 2015

Commercial Bank, Qatar’s first private bank, has announced the renewal of its exclusive strategic financial services partnership with IKEA, the world’s largest furniture retailer, in Qatar where customers can enjoy the IKEA experience through Commercial Bank’s “Shop Now Pay Later” interest free payment service.

Following the success of the past two years, Commercial Bank has been confirmed to act as the exclusive financial services partner to IKEA in Qatar for a further two years and the Bank will continue to offer a range of services within the store. These include Commercial Bank’s exclusive “Shop Now Pay Later” programme, an innovative feature allowing Commercial Bank credit cardholders the money-saving convenience of paying for their IKEA furniture in up to 24 interest free installments instead of paying the entire amount upfront. The offer is available at 0% interest for up to 24 months on all purchases of QAR 400 or more at IKEA with no additional documents required.

In addition, Commercial Bank also offers a market leading Reward Points programme, allowing Reward Points to be earned when using their credit card for retail purchases. Commercial Bank credit cardholders can then redeem these Reward Points at IKEA, which provides immediate discounts in-store. Any new customer who applies for a Commercial Bank credit card at IKEA will receive a welcome bonus of 5,000 Commercial Bank Reward Points worth QAR 500, which also can be redeemed at the store.

Dean Proctor, Commercial Bank EGM, Retail and Consumer Banking said: “We are delighted to extend our exclusive financial services partnership with IKEA for another two years and have the opportunity to continue offering our “Shop Now Pay Later” scheme through the world’s best known furniture store. All Commercial Bank credit cardholders including Diners Club, Visa or MasterCard holders can make purchases using their cards at IKEA and enjoy the benefit of repayments in interest-free monthly installments comfortably spread over a period of time.”

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Mr. Proctor added: “We will also continue to have a dedicated kiosk in the IKEA store where customers can apply for a Commercial Bank credit card on-the-spot. IKEA has huge experience in the Middle East region and we look forward to a continued successful partnership that will benefit both Commercial Bank and IKEA customers.”

James McGowan, ‎Regional Brand Communication Manager, IKEA said: “IKEA’s exclusive partnership with Commercial Bank delivers an added benefit to our customers who can furnish their homes with IKEA's wide range of innovative and affordable products while enjoying the peace of mind of Commercial Bank’s “Shop Now Pay Later” interest-free payment service. IKEA is pleased to renew our partnership with Commercial Bank for another two years and provide our customers in Qatar with convenient payment options.”

Commercial Bank credit cardholders continue to enjoy the widest range of benefits, including 0% “Shop Now Pay Later”, exclusive offers on travel, dining and shopping at over 200 other retail outlets in Qatar and overseas, complimentary access to over 600 executive airport lounges worldwide, complimentary travel insurance and much more.  

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