First Abu Dhabi Bank (FAB) has reported the signing of an agreement with the Mohammed bin Rashid Housing Establishment (MBRHE) to give adaptable financing choices to UAE Nationals looking for reasonable family housing.
The agreement comes as a part of the ‘Al Yusr’ program, one of the housing establishment’s drives pointed toward giving the best financing options to nationals by means of partner banks.
Under the agreement, FAB Islamic will give home financing of up to AED750,000, with benefits sponsored and paid by MBRHE and payment lasting up to 25 years. UAE nationals will also profit with financing solutions at competitive rates on the off chance that they are hoping to purchase or construct a private home, given the land or property estimation is higher than the sum indicated by MBRHE.
The agreement was signed by Fahad Al Shaer, Head of FAB Islamic and NHL, and Sami Abdullah Gargash, CEO of MBRHE.
Talking about the partnership, Futoon Al Mazrouei, Acting Head of Consumer Banking UAE, FAB, said, “We are pleased to offer UAE nationals diverse financing options to acquire family homes in line with their requirements. Family life is an imperative part of UAE culture and this partnership will further boost our efforts to support UAE nationals in buying their dream homes.”
For his part, the CEO of MBRHE said, “We welcome this agreement which supports the government’s goal to provide stability and happiness to its people. We are certain that this cooperation will contribute to ensuring the quality of housing services we provide, in line with the needs of UAE nationals and their families. We value FAB’s role in offering innovative financing solutions for UAE Nationals.”
The agreement supports joint initiatives between people in general and private areas to eventually profit UAE Nationals, and address their necessities in an effective and agile way, especially in the area of housing, and related financing solutions.