Jordan Dubai Islamic Bank has recently announced the extension of its Islamic Home Financing Program until the end of March, 2011. This extension caters to the demands of a wide client base, taking advantage of the extension of the discount in registration fees and sales tax on property by 50%, according to the amendments on the Jordanian land and property registration laws which is effective until 31/03/2011.
The Bank’s decision comes in answer to popular demand of its clients, who find in this financing program the ideal solution for enabling them to own their dream home in easy and uncomplicated procedures that suit their financial capabilities and lifestyles. The step comes in line with the Bank’s strategy to enable a large base of existing and potential clients to benefit from its services within to its plan to expand its array of products and services that adhere to Islamic Sharia and providing its clients with comprehensive financial products and solutions that meet their various needs.
Jordan Dubai Islamic Bank launched this home finance program in late 2010 and designed it to meet the needs of all clients that wish to own a home within the provisions of Islamic Shariah at a decreasing “Ijarah” rate starting from 6.99% for the first year. Among the program’s benefits is free Islamic Takaful and Insurance for both client and property, not requiring a monthly salary transfer, the possibility of covering other existing housing obligations with other banks in the form of Ijarah, and a special financing program for Jordanian expatriates.