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Ministry of Energy and Infrastructure signs 4 MoUs with banks

Dubai - The MoUs were signed by Eng. Jameela Al Fandi, Director of the Sheikh Zayed Housing Programme, and Ahmed Al Naqbi, CEO of the EDB, Salah Amin, CEO of the EIB, Faroun Soud, Director of Financing at the DIB, and Mohammed Amiri, CEO of AB.

The Ministry of Energy and Infrastructure today signed Memoranda of Understanding (MoU) with the Emirates Development Bank (EDB), the Emirates Islamic Bank (EIB), Dubai Islamic Bank (DIB) and Ajman Bank (AB).

The signing was attended by Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Infrastructure.The MoUs facilitate the financing of additional loans for beneficiaries of the Sheikh Zayed Housing Programme and promote cooperation between the ministry and national banks to serve citizens, by offering the programme’s loans at competitive prices.

They also facilitate additional loan applications for citizens, to accelerate the process of the delivery of houses.

The MoUs were signed by Eng. Jameela Al Fandi, Director of the Sheikh Zayed Housing Programme, and Ahmed Al Naqbi, CEO of the EDB, Salah Amin, CEO of the EIB, Faroun Soud, Director of Financing at the DIB, and Mohammed Amiri, CEO of AB.

Al Mazrouei stressed that the MoUs will unify the efforts to serve citizens benefitting from the programme’s services, by offering housing financing and banking facilities and reducing their financial burdens.

He then lauded the role of national banks in ensuring the stability of citizen families, supporting their wellbeing and improving their quality of life, to meet current and future housing needs and reduce the required period for delivering housing units, as well as promoting partnerships with the private sector to achieve the ministry’s objectives.

Al Mazrouei stressed that the MoUs aim to meet the aspirations and needs of Emirati citizens and provide them with convenient housing, to ensure their family stability and wellbeing, noting that this approach was adopted by the country’s leadership, headed by President His Highness Sheikh Khalifa bin Zayed Al Nahyan.

Al Fandi said that Emirati citizens are the core of the development process and are key foundations of achieving sustainable development, adding that the country’s vision is to provide its citizens with modern housing units that will fulfil their needs.

Al Naqbi affirmed that the EDB is committed to achieving its goals of providing citizens with decent housing and helping them own their homes, by offering financing programmes.

Amin highlighted the keenness of the EIB to improve the quality of life of Emirati citizens, expressing his happiness at continuing the partnership with the Sheikh Zayed Housing Programme and the Ministry of Energy and Infrastructure. Soud expressed his keenness to support the programme’s beneficiaries and provide them with housing financing solutions in line with the Islamic sharia.

Amiri said that the strategic agreement will facilitate and accelerate the provision of housing loans to all people. — Wam