Dubai Islamic Bank to extend home finance packages
Dubai Islamic Bank (DIB) will extend a range of home finance options to United Arab Emirates (UAE) and Gulf Cooperation Council (GCC) nationals, as well as expatriates investing in the country's burgeoning real-estate market.
The home finance options that DIB will offer will be open to investors earning a monthly income of 8,000 Emirati dirhams and will entail providing finance of up to 80 percent of the property value, for a period of up to 12 years.
“One of the indicators of a vibrant and strong economy is an increased uptake of home ownership within the country. The real-estate market in the UAE is growing at a exceptional rate, especially after the announcement of freehold ownership on premium real-estate projects,” stated Butti Khalifa Bin Darwish, DIB general manager.
“Home financing comprises a substantial part of our operations and we have signed agreements with leading real-estate development companies in the country. This will enable us to offer DIB customers and investors attractive home finance options in some of the finest master-planned communities in the region,” added Darwish.
The bank has also been a joint signatory in several agreements for Mourabaha, Estinaa and other transactions with corporate houses, government institutions and free zone authorities in the UAE and GCC countries. DIB corporate and retail banking offerings are in accordance with the Islamic Shariah and compliant with Islamic financial schemes.
Established on 1975, Dubai Islamic Bank is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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