Emirates NBD renews partnership with MRHE to provide home financing for UAE nationals

Press release

Published September 29th, 2013 - 11:50 GMT

Al Marzouqi with Al Marri at the signing ceremony

Emirates NBD, a leading bank in the region, today announced the renewal of its partnership agreement with Mohammed Bin Rashid Housing Establishment (MRHE) for the third year running, to support the funding of mortgage financing for UAE Nationals, wishing to build their own homes.

As part of this year’s partnership, Emirates NBD will have a kiosk located at MRHE to provide added guidance and solutions for Emiratis looking to purchase homes within the UAE.

Ahmed Al Marzouqi, General Manager of Retail Distribution at Emirates NBD said: “Through this partnership we aim to continue to support UAE Nationals in gaining access to home solutions and create an awareness of the importance of wise borrowing when it comes to home financing.In line with our commitment to make our services as accessible as possible, this year we have decided to set up an Emirates NBD kiosk at MRHE, to offer UAE nationals continued onsite support and assistance with purchasing their home.”

MohamadHumaid Al Marri, Assistance CEO - The Finance & Corporate Support Section, Mohammed Bin Rashid Housing Establishment, said: “We are very grateful for the support we receive from our various partners in providing a range of valuable services and expertise.We are always looking to partner with new organisations, who can help us extend our offering in ensuring that UAE nationals in Dubai have access to the highest levels of housing. Our campaign ‘My House… My Environment’, aims to educate the local community and increase their awareness of sustainable practices within construction, maintenance, home security, energy efficiency and the rights of individual home owners and their local community, through the use of various media outlets.”

This partnership between Emirates NBD and MRHE, first signed in 2011, is in line with MRHE’s strategic objectives to further build and expand its partnerships with banks, private sector organizations and mortgage financiers to offer improved home loan solutions to UAE nationals.In line with the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, the MRHE aims to enhance the quality of life for UAE nationals living in Dubai by helping them access superior housing.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.