DIB, MRHE in tie-up for nationals’ home financing

Dubai Islamic Bank, or DIB, has announced an agreement with the Mohammed bin Rashid Housing Establishment, or MRHE, to assist UAE nationals in fulfilling their basic housing needs.

By Staff Report

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Published: Mon 26 Aug 2013, 1:02 AM

Last updated: Tue 7 Apr 2015, 7:50 PM

The agreement was signed at a ceremony held at the MRHE office in Dubai by MRHE CEO Sami Abdullah Gargash and DIB CEO Dr Adnan Chilwan.

In line with the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the MRHE aims to enhance the quality of life for UAE nationals living in Dubai by helping them access superior housing. Under the partnership, DIB will offer UAE nationals financing up to 100 per cent of the property’s value, ranging up to Dh2 million with a tenure of up to 25 years, and attractive profit rates starting from 3.99 per cent per annum.

“Our partnership with the Mohammed Bin Rashid Housing Establishment is an extension of this philosophy, and it will enable DIB to make the dream of home ownership a reality for many UAE nationals,” Dr Chilwan said.

“[This] announcement marks another important milestone in the mission of the MRHE, which works tirelessly to meet the varied housing needs of UAE nationals,” Gargash said.

— business@khaleejtimes.com

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