The banks should show more flexibility while extending loans including the auto loans, a leading auto dealer said on Thursday.
“The automotive business in Bahrain is facing quite tough marketing conditions which impacts the profitability of the businesses,” Jamal M Al Sayed General Manager at Mohammed Jalal and Sons, exclusive distributors of Japanese brand Suzuki told The24X7News.
“The year 2013 was bumpy in this business line and many of the dealers and importers were willing to sell their vehicles at the cost price,” he said, adding that though Suzuki had a better year but there were higher expectations from the year 2014.
Explaining the car loans and banks’ way of handling it he said when we say that banks should take a lenient view it doesn’t mean that we were are suggesting to compromise on the loans security. But, he added, what we mean is that banks should become proactive partners so that both sides can thrive and in the end deliver benefits for the national economy.