CBD launches its new Ijarah Home Products
22/11/2012
One of the local banks in the UAE has just launched its new improved version of Attijari Al Islami Sharia-Compliant Banking and Financial Services including Attijari Al Islami-Ijarah Muntahia Bittamlek for completed property, and Attijari Al Islami-Ijarah Sale & Lease Back for completed and owned properties, which were particularly designed for UAE Nationals and Expats who have a minimum monthly-income of AED20, 000 as well as an employment of at least two years. Indeed, it is the Commercial Bank of Dubai ( CBD ).
Actually, those newly-launched Ijarah Home Products will offer both transparent and competitive rates. So, as Head of Attijari Al Islami, CBD, Nabil Tayeb Khoory said that the company has never been ceasing to monitor the changing needs of the market to introduce those products. As a result, it is being driven by the currently-increasing interest in the property investment. For this reason, the company is so optimistic that its the so-called 'Home Lease Solution' has a possibility to receive high demand from those local residents and expatriates who are willing to invest in the Emirate's property market.
Moreover, CBD offers those Home Products with flexible rental tenure of at least 25 years. In other words, the investors will pay with a minimum leasing amount of AED500, 000 and a maximum leasing amount of less than AED15 million. In addition, the leasing locations will be both in Abu Dhabi and Dubai as long as there are approved and listed property developers.
Now, as the above-mentioned newly-launched Islamic mortgage products are quite attractive to qualified residents, there will be a number of them that could decide to invest or own a property. As a matter of fact, such Islamic Mortgage Market has been improving since 2006; for the total value of sharia-complaint assets has increased around 150 per cent.
Actually, those newly-launched Ijarah Home Products will offer both transparent and competitive rates. So, as Head of Attijari Al Islami, CBD, Nabil Tayeb Khoory said that the company has never been ceasing to monitor the changing needs of the market to introduce those products. As a result, it is being driven by the currently-increasing interest in the property investment. For this reason, the company is so optimistic that its the so-called 'Home Lease Solution' has a possibility to receive high demand from those local residents and expatriates who are willing to invest in the Emirate's property market.
Moreover, CBD offers those Home Products with flexible rental tenure of at least 25 years. In other words, the investors will pay with a minimum leasing amount of AED500, 000 and a maximum leasing amount of less than AED15 million. In addition, the leasing locations will be both in Abu Dhabi and Dubai as long as there are approved and listed property developers.
Now, as the above-mentioned newly-launched Islamic mortgage products are quite attractive to qualified residents, there will be a number of them that could decide to invest or own a property. As a matter of fact, such Islamic Mortgage Market has been improving since 2006; for the total value of sharia-complaint assets has increased around 150 per cent.
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