Ajman Bank launches new home finance

Ajman Bank, the award-winning Islamic financial services institution committed to transforming the experience of Islamic banking, announced on Monday a new Home Finance offer with an unprecedented profit rate starting from 2.99 per cent. The move comes as part of the bank’s commitment to further support the growth of the booming real estate sector in the country and, following the Bank’s signing of an MOU with Sheikh Zayed Housing Programme in August earlier this year, is also aimed to address the housing needs of customers and families in the UAE to acquire their dream homes at most affordable rates. Ajman Bank’s new Shari’ah compliant offer is available for UAE Nationals and Residents. The scheme provides up to 90 per cent of the property cost for UAE Nationals and up to 85 per cent for Expatriates. Repayment periods can be extended up to 25 years under flexible conditions. Mohamed Amiri, Acting CEO, Ajman Bank, said: “Our new offer is meant to support the economic growth in the country, particularly the exceptional real estate boom which is currently being witnessed. It is in line with the ambitious plans of the bank to enhance its banking and financial services to individual clients.” From Gulf Today