Darkom, Jordan’s first housing loan insurance company signed its first Lender agreement with Cairo Amman Bank on January, 200829th at Darkom’s Headquarters.
This agreement is the first of its type to be signed by the housing loan insurance company “Darkom” with a bank in the kingdom. This agreement will give community members regardless of their socio-economic background the opportunity to have long-term housing loans with competitive interest rates, flexible payment terms, reduced down payments, and reduced monthly installments.
Cairo Amman Bank was prompted to sign this agreement with Darkom based upon the latter’s demonstrated ability to provide innovative financial products that in turn provide community members with low and medium sized income earnings with access to affordable housing solutions.
Darkom’s strategy is to make the ownership of real-estate properties attainable for all segments of the community regardless of their socio-economic background. It achieves this goal by allowing buyers to purchase real-estate properties through funding solutions that harbor payment terms that extend up to 25 years. The company’s solutions also serve to reduce risks incurred by banks and to make the monthly installments incurred by homebuyers more affordable.
Since its launch Darkom has worked to provide lenders, banks and other financial institutions with protection against losses they may incur as a result of a payment default on a mortgage loan.
“We are very glad to be signing this agreement with Cairo Amman Bank as this agreement marks a milestone within our operation. Cairo Amman Bank’s decision to collaborate with us serves to further prove the high level of confidence and belief its management has in our services. I am confident that our joint collaboration will serve to enhance Jordan’s real-estate sector, as this agreement will serve to invite more people to invest in real estate. I look forward to many positive outcomes to be reaped from this partnership and I look forward to working closely with Cairo Amman Bank to make our vision for this sector a tangible and attainable reality” Explained General Manager of Darkom, Mr. Waseem Wael Zurub.
Mr. Kamal Al- Bakri GM of Cairo Amman Bank said: “We are proud to be signing this agreement with Darkom. We believe that our cooperation will be very fruitful and all the sectors in the Kingdom will benefit from this cooperation”.
“Our aim is to provide homebuyers with financial solutions that respond to their needs. We chose to collaborate with Darkom based upon a strategic plan that guarantees both parties rights.” He also added.
It is important to note that the Cairo Amman Bank was established in 1960 as a Jordanian public shareholding company and began its banking services on July 1, 1960. CAB's first branch was launched in Palestine in 1986
CAB offers a wide range of banking, commercial, investment and individual services. Throughout the years, the bank conducted a number of pioneering projects such as funding and giving loans to the less fortunate, providing personal loans through transferring salaries in addition to investment services, credit cards and rapid money transfers-Western Union. All CAB's strategies and plans are created and prepared with one goal in mind: Empowering the Jordanian economy and improving the lives of citizens
