Business | Banking
Hydra Properties, Noor Islamic Bank sign agreement to offer Sharia financing solutions
Hydra Properties has signed a mortgage agreement with Noor Islamic Bank, which covers all of Hydra Properties' current and future projects all over the UAE. The agreement also includes both freehold and leasehold properties.
- Staff Report
- Published: 23:43 August 26, 2008
Dubai: Hydra Properties has signed a mortgage agreement with Noor Islamic Bank, which covers all of Hydra Properties' current and future projects all over the UAE. The agreement also includes both freehold and leasehold properties.
Dr. Sulaiman Al Fahim, Chief Executive Officer, Hydra Properties, signed the agreement with Fatima Al Mansour, Head of Consumer Banking, Noor Islamic Bank, at a function in Abu Dhabi recently.
Dr. Al Fahim said: "We at Hydra Properties are extremely delighted to associate with a trusted partner such as Noor Islamic Bank. The agreement will help all our customers to pursue their investment goals in a relaxed manner, without resorting to uncalled for risks. This joining of hands between two leading institutions will give those who are investing in our developments more options to maximise their gains."
Dr. Al Fahim added: "With this development customers can obtain Islamic /Sharia complaint financing for their homes and with the holy month of Ramadan round the corner, there cannot be better news than this major tie-up. This scheme will enable Hydra's investors to make sound and ethical decisions while securing their financial future."
More from Banking
More from Business
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
