Ajman Bank, Meydan in strategic tie-up
Ajman, December 24, 2013
Ajman Bank, a leading Islamic financial services institution, has entered into a strategic agreement with Meydan Sobha Group to provide its customers financing for villas located in Mohammed Bin Rashid City - District One.
“We are pleased to partner in this landmark development with Meydan Sobha. Our aim is to support our customers by providing them with unique and simple home finance packages as well as the growing real estate sector by strategically identifying the market's needs,” said Salem Al Shamsi, Ajman Bank EVP - head of Retail Banking.
“This is evident from our very attractive and highly flexible Shariah compliant home finance solutions being offered for this project with up to Dh10 million ($2.72 million) finance and profit rates as low as 4.49 per cent per annum.”
Meydan Sobha CFO Manish Sharma, said: “This tie-up is a reflection of the trust that leading banks like Ajman Bank and investors have bestowed in Meydan Sobha’s development. We are pleased to partner with Ajman Bank and look forward to further growing this association in the near future."
Mohammed Bin Rashid City - District One is a freehold community of villas set among a backdrop of parks and crystal lagoons in the heart of Dubai. – TradeArabia News Service