Dubai Islamic Bank home finance solutions receive high demand

The recently launched solutions are aimed at meeting the requirements of retail customers, including both UAE nationals and expatriates, looking to buy properties in the UAE freehold property market.

In response to this demand, DIB has announced the launch of Mobile Mortgage Advisors, a team of Mortgage Sales Experts who will support the new initiative by providing valuable consultancy at customers' doorstep.

Al Islami Home Finance offers unique Islamic home finance solutions through "Forward Ijarah" and "Ijarah" products. Customers also have the flexibility to determine their finance limit without first choosing a property through the "Advance Eligibility Process."

Dubai Islamic Bank's home finance products cater to a diverse customer profile that is seeking finance for home or office space. Depending on eligibility and other criteria, the Al Islami Home Finance solutions will offer up to 90 per cent finance, with a maximum tenure of 25 years.

Commenting on the launch, Mohammed Ameery, Senior Vice President, Head of Branches and Distribution Network, Dubai Islamic Bank, said:

"We are glad to see such strong demand for this unique product. We strive to open doors for our customers through a mortgage product that not only takes care of their residential needs but also provides them with a lifestyle option. We offer mortgages at attractive profit rates and with a very convenient installment structure. This is yet another commitment from DIB to its valued customers, proving that the bank offers innovative, flexible and customer-friendly solutions."

He added: "Al Islami Home Finance has been launched based on extensive in-house research, customer demand and past experience. This product has been carefully designed to meet the requirements of present and future property owners. The bank also plans in the near future to open a dedicated Mortgage Sales Center in addition to our Mobile Mortgage Service Advisors, who are always ready to extend Dubai Islamic Bank's superior customer-friendly services at their doorstep."

He concluded: "The bank has also signed an agreement with the top ten real estate developers in the country. The agreement will allow retail customers to benefit from the best free-hold financing solutions. Many other agreements are in the pipeline, and the bank will inform customers about such new agreements as they are concluded."