Dubai Islamic Bank Offers Up To 90 per cent Home Finance

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it is offering up to 90 per cent financing for properties across the UAE. Property buyers can avail of Al Islami Home Finance for up to 25 years for ready and under-construction properties from approved developers. This financing is available to UAE nationals and expatriate residents. In addition, DIB is offering refinancing solutions for properties that are already completed.Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB, said: “Property buyers in the UAE are seeking easy home financing solutions. At DIB, customers are our top priority and we are pleased to open new doors for them by offering up to 90 per cent finance for their dream homes.“The security of owning a home in the UAE provides great comfort to our customers. With a high finance to value ratio and a range of products to suit every need, we encourage homebuyers in the country to take advantage of this opportunity.”Customers can avail of Al Islami Home Finance by visiting any of DIB’s wide network of 57 branches or by requesting a personalised visit from DIB’s Home Finance Advisors.
 About Dubai Islamic Bank:
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services.The bank currently operates 57 branches in the UAE. As part of its expansion plans announced in early 2009 and in line with its aim to ensure customer satisfaction through accessibility, DIB will increase its nationwide network to 64 branches by the end of this year. In addition to regular, full-service branches, DIB is also planning to launch Express Banking Centres, which will provide fast, efficient services to DIB customers at various convenient locations like shopping malls, hypermarkets and megastoresBy the end of 2009, DIB forecasts that the bank’s total customer base will increase by approximately 15 per cent, reaching some 900,000 customers, while its retail assets business will grow by approximately 20 per cent.DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary. DIB has also opened its first representative office in Turkey to enhance its access to that market. DIB has also acquired a stake in Al Khartoum Bank and in Emirates and Sudan Bank, as well as contributing to the launch of Jordan Dubai Islamic Bank.DIB has won the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 34 awards that it has won in 2008 across diversified areas within banking, be it retail, corporate or investment banking. The bank was recently named “Best Islamic Bank” for the 4th consecutive year by Banker Middle East magazine. DIB has also received many awards from international organisations, such as the prestigious “Bank of the Year” award from The Banker (Financial Times), along with prestigious accolades from UK based Euromoney and NY based Global Finance magazines.
 

Dubai Islamic Bank Offers Auto Finance At Profit Rates Starting From 4.50 Per Cent

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it is offering auto finance at profit rates starting from just 4.50 per cent p.a. Al Islami Auto Finance is available for up to 72 months, with a minimum monthly salary requirement of AED 3,000. No down payment or salary transfer is required to avail of this offer, which covers both new and pre-owned vehicles.

This attractive financing demonstrates the bank’s generally positive outlook as well as its strong liquidity position, and is in line with its expansion plans announced earlier this year. By the end of this year, DIB will open 10 new branches, expanding its nationwide network to 64 branches, further strengthening its presence across the UAE, while also offering an overall enhanced customer experience.

“As the provider of auto finance for one in every three cars financed in the UAE, Al Islami Auto Finance has long been the leading solution of choice for consumers here,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB. “In today’s highly competitive market, the bank has recognised the need for flexible auto finance options – which is why we are very pleased to announce this extremely attractive offer that provides a host of valuable benefits.”

DIB has the country’s largest team of qualified auto finance professionals, many of whom are available directly at dealer locations. The bank offers an unmatched range of Sharia-compliant auto financing solutions – along with value-added services such as insurance finance and service contract finance – at extremely competitive profit rates, catering to a broad cross-section of the UAE population.

Omniyat Property Services Enters Into Strategic Partnership With Independent Finance

Omniyat Property Services (OPS), an arm of Omniyat Asset Management, has partnered with Dubai-based firm Independent Finance, one of the UAE’s leading financial consulting firms, to provide tailored financing solutions to owners and tenants of Omniyat’s projects.

With this strategic partnership, OPS will be able to help investors deal with two major hurdles during the settlement phase by providing them with two unique financing alternatives: financing for fit-out and financing for the 15% payment. Financing packages can also be negotiated for tenants in an effort to help owners lease their properties.

Lloyd Budd, Commercial Director of Omniyat Property Services, said: “Omniyat has established this division, to offer key real estate functions to our clients, and to add significant value to their investment. With seven projects in Business Bay, our expertise and focus is tailor-made solutions for our clients through commercial leasing, property management, sales brokerage and turn-key-fit-out solutions. We also provide value added components such as finance, insurance and valuations.

“We have partnered with leading local and international agencies in Dubai to ensure that the client needs only one point of contact, but receive the benefit of numerous agencies working for him. Should a client require any additional, specialized services, OPS will find the right partners and will negotiate on his behalf to guarantee that he is getting the best value for his money,” he added.

Independent Finance is a specialist in financial consultancy and offers property owners and tenants tailored solutions. The company guides and assists clients to find the best financial products, which range from financing annual rents, monthly payment and worldwide mortgages, to private offshore banking.

“As the markets change and move, so do we; we are constantly bringing new and innovative financing options to the client, making sure to meet his exact needs. We believe that Omniyat is the best partner for our Handover Initiative, ‘Putting Client First.’ We both are committed to providing customers with a convenient and efficient way to capture and enhance the value of their property investments and maintaining high quality standards. The advantage of Independent Finance is that we deal with all professional lenders across the UAE and many international banks,” said Chris Green, Managing Director of Independent Finance.

The Exclusive Omniyat Handover Initiative ‘Putting Client First’ will help investors save up to 4% on currency transfers today by offering superior commercial exchange rates with no commissions and no transfer fees. The initiative also offers forward buying which limits orders to safeguard against rate fluctuations, without charges or regular monthly currency payments for corporate exchange rates on mortgages and pensions. A personal dedicated currency dealer is available to efficiently guide investors.

“Our aim with the OPS and Independent Finance partnership is to ensure investors’ properties achieve higher occupancy, better returns and a seamless tenant relationship. We measure our success one client at a time and provide solutions that are in the best interest of the owner and tenant,” concluded Budd.