ABU DHABI (WAM)
The Ministry of Energy and Infrastructure (MoEI), represented by the Sheikh Zayed Housing Programme, has signed a Memorandum of Understanding with Ajman Bank to provide enhanced home finance solutions to the programme’s customers.
This partnership aims to streamline the financing process and contribute to the nation’s goal of providing sustainable housing options for its citizens.
Under the MoU, Ajman Bank will offer beneficiaries of the Sheikh Zayed Housing Programme housing loans covering residential properties in the UAE. In addition, the Bank will offer personal finance, vehicle finance and other services related to the management and investment of the programme’s funds.
Ajman Bank becomes the fifth financial institution to join this initiative, following Abu Dhabi Islamic Bank, Abu Dhabi First Bank, Dubai Islamic Bank, and Emirates NBD.
Mohammed Al Mansoori, Director-General of the Sheikh Zayed Housing Programme, said, “The programme translates the directives of the wise leadership by developing its services and working relentlessly to provide decent houses for eligible Emirati families.
We are delighted to partner with Ajman Bank to fulfil our aspirations in ensuring adequate quality housing for UAE nationals. It will allow us to diversify the financing options for projects that meet our standards while increasing the pace, scale and quality of delivering new homes.”
Commenting on the agreement, Mustafa Al Khalfawi, CEO of Ajman Bank, said, “We are pleased to collaborate with Sheikh Zayed Housing Programme, the Ministry of Energy and Infrastructure, and the Ministry of Finance to provide comprehensive home finance solutions for UAE citizens. This strategic partnership reflects our unwavering commitment to the UAE’s national agenda of facilitating access to easy funding for Emirati nationals to enhance their lifestyle.”