United Arab Emirates, Dubai, April 19th, 2011: Emirates Islamic Bank announced significant changes to their home mortgage policy. The revision will help end users increase ability to enter the property market at very competitive terms including profit rates, etc.

Key changes:

With the new package, EIB will be offering reduced rates as low as 5.45% p.a.  on reducing balance, and open new segments such as self employed, relaxed length of service for employees based on their salary, including buy out campaigns, special offerings for Sheikh Zayed housing program and those involved with the Mohamed Bin Rashed housing project.  

'There have been noticeable development in the housing market over the last year and everyone involved in the property market has needed to evolve and properties now have very competitive valuation. As such, we would like to facilitate to customers who are interested in owning their dream home. We also believe that our competitive offering will support the growing interest for housing in the UAE' Said Mr. Faisal Aqil, GM Retail Banking for Emirates Islamic Bank.  

EIB home finance packages are based on Shariah compliant banking principles and tailored to suit all financial and personal needs providing customers with unique benefits and advantages. The revised pricing structure is subject to terms and conditions and further details are available in all Emirates Islamic Bank branches. 

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About Emirates Islamic Bank:
Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari'a-compliant financial solutions. The Bank offers a range of Shari'a compliant products and services conforming to the highest standards of Islamic finance and all its activities are overseen by a Shari'a board comprising several prestigious scholars of Islamic law. On the retail side, the bank has an array of products, such as a full range of credit cards including Visa Infinite Card; Manzili Home Finance, Intaleq Car Finance, and many other products. The bank has also launched Al Reem Ladies Banking, a specialized banking service designed to cater to the banking and financial needs of women in the region.

The bank also offers Ethmar Priority banking to suit the demands of the high-net-worth clients.

Emirates Islamic Bank is very active on the Corporate Banking level, seeking exceptional investment opportunities in the local as well as the regional market. Within almost three years of its inception Emirates Islamic Bank has managed to position itself as one of leading financial players in the UAE's banking sector. The bank's rapid growth and success is mainly due to its continued successful launch of Shari'a compliant products, services and other key business initiatives. EIB is headquartered in Dubai, employs more than 800 staff and has currently 32 branches across the UAE

Issued on behalf of Emirates Islamic Bank by tamra C2 PR.

For additional information please contact
Salma Zuhair Al-Madhoun
Account Executive tamra C2;
Tel:  04 295 11 77.
Fax: 04 295 11 88

© Press Release 2011