NBAD first bank to offer fertility financing
- United Arab Emirates: Wednesday, November 21 - 2012 at 11:14
- PRESS RELEASE
The National Bank of Abu Dhabi, is the first bank to offer special financing to families seeking medical fertility treatment.
The NBAD IVF Fertility Financing provides up to Dhs100,000 towards fertility treatment - a much needed service for families facing a difficult social issue - and demonstrates NBAD's commitment to sustainability by leveraging business activities to develop positive outcomes for the wider community.
"NBAD is pleased to join hands with The Emirates Family Network on this very important initiative that not only helps families in need but also creates awareness and understanding about this matter," says George Beatty, the General Manager of Consumer and Elite Banking of NBAD.
Mr. Beatty continues: "Such a scheme is unique to the UAE and is an example of NBAD bringing positive impact on society."
The IVF Fertility Financing loan is available to UAE nationals and expatriates. The loan must be repaid within a year, and offers a rate of 6.49% on a reducing balance, as well as discounted processing fees.
"The issue of infertility for some spouses have become one of the major issues that affect family stability, and all consider giving birth as a beautiful and natural event," says Sheikha Dr. Hind bint Abdul Aziz Al Qassimi, Honorary Chairperson of the Emirates Family Network. "It is even the miracle of life, but when spouses face problems in having children or concerning conception, we abstain to talk freely about it in the community."
Statistics also show that there are about 7,000 IVF treatments annually in the UAE and that the approximate charge for this service is about Dhs20,000. On average couples try 3 to 4 times before IVF is successful making the financial implications far out of reach for many.
Sheikha Dr. Hind Al Qassimi added, "We are very grateful to The National Bank of Abu Dhabi (NBAD) for sponsoring this initiative, we believe that together we can improve many people's lives and livelihoods, and generally raise awareness of infertility in the United Arab Emirates."
"The National Bank of Abu Dhabi is the first and only bank in the UAE to offer financing for IVF treatment and NBAD's launch of this product is in line with our aims to support our customers' needs and aspirations throughout their lives," says Belinda Scott, the Senior Manager of Sustainability at NBAD.
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