ABU DHABI, Abu Dhabi City Municipality,ADM, and Dubai Islamic Bank,DIB, have signed a Service Level Agreement for the e-Mortgage System.
Saif Badr Al Qubaisi, General Manager of Abu Dhabi City Municipality, and Mohammed Salim Al Falasi, Vice President of Central Operations at Dubai Islamic Bank, sealed the agreement, which is seen as part of the e-registration system of mortgages with the aim of registering, revising and redeeming property mortgages.
The signing of the Agreement with the Dubai Islamic Bank stems from the Municipality's keenness to boost relations with the leading banks in the UAE and fostering cooperative and partnership relationships with strategic partners. It also aims to enhance the monitoring of all matters related lands and properties business in support of the sustainable development of this sector. It also attracts investments and strengthens the local economic development as well as the competitiveness of the economy of Abu Dhabi Emirate.
Source: Emirates News Agency