The concert is set to take place on April 27
NBAD’s role as an accredited bank to service escrow accounts dates back to November 2007, shortly after Dubai adopted Law No. 8 of 2007, Guarantee Accounts of Real Estate Developments in the Emirate of Dubai. The law protects the buyers of off-plan. Under it, buyers would place their payment instalments in an Escrow account instead of giving it directly to the developer.
Pursuant to NBAD’s agreement with (DLD) on November 21, 2007 the Bank set up its ESCROW Department in June 2008 as a part of Corporate Banking Group-Northern Emirates. Currently NBAD manages 15 ESCROW accounts for various real estate developments in Dubai.
Subsequent to our earlier agreement with Dubai Lands Department, Real Estate Regulatory Agency (RERA) formulated a new Account Trustee Agreement incorporating certain principal changes. The new agreement was signed by Abdulla Ghobash, NBAD’s Regional Manager Northern Emirates; and Marwan Bin Ghalita, Chief Executive Officer of Real Estate Regulatory Agency.
‘The renewal of this agreement underscores the important role NBAD plays in the property market by offering best solutions with an experienced team,’ said Ghobash.
Ahmed Dhaen, NBAD’s Head of Corporate Banking Group and the Deputy Regional Manager in Northern Emirates; M.V Varkey, the Manager of Corporate Banking & Escrow Department of NBAD and James Thomson, the Account Relationship Officer of NBAD’s Escrow Department also attended the function.
The concert is set to take place on April 27
Move aims to amplify Zambia’s renewable energy capacity
More vertiports will be set up in strategic locations across Abu Dhabi, including major business hubs and tourism destinations
Kerala will decide the fate of 194 candidates as polling on all 20 parliamentary constituencies will be held in the second phase
Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people