Ajman Bank Signs MOU to Offer Enhanced Home Finance Solutions for Sheikh Zayed Housing Programme

Marking World Habitat Day 2024, celebrated on October 7, the Ministry of Energy and Infrastructure (MoEI), represented by Sheikh Zayed Housing Programme, signed a landmark Memorandum of Understanding (MOU) with Ajman Bank, where the bank offers enhanced home finance solutions for the Programme’s customers. This collaboration aims to facilitate end-to-end financing solutions for UAE citizens eligible under the housing program, contributing to the nation’s vision of providing sustainable housing options for its citizens.

Ajman Bank is the fifth bank to be added to this esteemed initiative alongside Abu Dhabi Islamic Bank, Abu Dhabi First Bank, Dubai Islamic Bank, and Emirates NBD.

His Excellency Eng Mohammed Al Mansoori, Director General of Sheikh Zayed Housing Programme, said: “The Sheikh Zayed Housing Programme translates the directives of the wise leadership by developing its services and working relentlessly to provide decent houses for eligible Emirati families. We are delighted to partner with Ajman Bank to fulfill our aspirations in ensuring adequate quality housing for UAE nationals. It will allow us to diversify the financing options for projects that meet our standards while increasing the pace, scale and quality of delivering new homes.”

Commenting on the agreement, Mustafa Al Khalfawi, CEO of Ajman Bank, said: “We are pleased to collaborate with Sheikh Zayed Housing Programme, the Ministry of Energy and Infrastructure, and the Ministry of Finance, to provide comprehensive home finance solutions for UAE citizens. This strategic partnership reflects our unwavering commitment to the UAE’s national agenda of facilitating access to easy funding for Emirati nationals to enhance their lifestyle. Being added to this prestigious program is a significant achievement for Ajman Bank and a testament to the trust placed in us. We look forward to empowering citizens with the financial support they need to turn their dream of homeownership into a reality. It will benefit both new and existing beneficiaries of Sheikh Zayed Housing Programme while enabling progress.”

In accordance with the provisions of the Memorandum, Ajman Bank will provide beneficiaries of Sheikh Zayed Housing Programme with housing loans covering residential properties in the UAE. In addition, Ajman Bank will offer personal finance, vehicle finance and other services related to the management and investment of the programme’s funds.

Since its establishment in 1999, Sheikh Zayed Housing Programme has committed to enhancing citizens’ wellbeing and the quality of life for Emirati families through providing sustainable housing solutions. Owing to the future-oriented vision of wise leadership, the Programme has made notable achievements that touched the lives of thousands of people.