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Emirates Islamic Bank enters into a strategic agreement with the Real Estate Regulatory Authority
(The Middle East and North Africa Business Report (Amman, Jordan) Via Acquire Media NewsEdge) Nov. 16--Emirates Islamic Bank (EIB), one of the leading Islamic financial institutions in the UAE, has always been at the forefront of promoting the development of the region via various initiatives. In keeping with this trend, the bank has entered into a strategic agreement with Dubai's Real Estate Regulatory Authority (RERA).
The Memorandum of Understanding between the two parties was signed earlier this week by Mr. Ebrahim Fayes Al Shamsi, the CEO of Emirates Islamic Bank and Mr. Marwan Bin Ghalita, the CEO of RERA. According to the agreement, Emirates Islamic Bank will utilize RERA's expansive network of marketing channels, online and otherwise, to make their unique and wide product portfolio available to RERA's customers.
"With the region in the midst of an unprecedented real estate boom, the agreement with RERA is all the more significant" said Mr. Ebrahim Fayes Al Shamsi. "Our products and services include the convenient Manzili home finance options that will be invaluable to the home finance customers and the overall real estate community in Dubai, Escrow account opening facilities as well many other offerings tailor-made to make life easier. Providing the Islamic financial services benefits to the maximum number of people has been our goal, and this agreement with RERA is another key step in that direction" he added.
Mr. Marwan Bin Ghalita, the CEO of RERA, expressing his enthusiasm about the development said: "Our agreement with a leading financial institution like Emirates Islamic Bank adds a new dimension to the many benefits and services we offer the real estate sector. We are therefore delighted to have Emirates Islamic Bank as our strategic partner to yet another exciting initiative" said Mr. Ghalita, adding that giving people convenient access to a variety of good products and services will have a positive effect on the real estate market.
To see more of the Middle East and North Africa Business Report or to subscribe to the newspaper, go to http://www.menareport.com/.
Copyright (c) 2008, Middle East and North Africa Business Report, Amman, Jordan
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