UAE's FAB partners with IKEA on exclusive home furnishing loans

FAB’s initiative to extend personal home loans for Emiratis in Abu Dhabi, under the Abu Dhabi Housing Authority scheme

  
Image for illustrative purposes. First Abu Dhabi Bank head office situated at Khalifa Business Park Abu Dhabi.

Image for illustrative purposes. First Abu Dhabi Bank head office situated at Khalifa Business Park Abu Dhabi.

First Abu Dhabi Bank/ Handout via Thomson Reuters Zawya

ABU DHABI - First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has partnered with IKEA, part of Al-Futtaim Group, to offer National Housing Loan (NHL) programme customers specialised personal loans to furnish and decorate their homes.

These personal loans will offer NHL customers a range of benefits, including personalised and private interior design and home furnishing advice as well as low rates and a fast application process.

The partnership agreement was signed by Fahad Al Shaer, Head of FAB Islamic and NHL, and Vinod Jayan, Managing Director – IKEA UAE, Qatar, Egypt and Oman.

Commenting on the partnership, Futoon Al Mazrouei, Acting Head of Consumer Banking, FAB, said, "The NHL programme has been a trusted partner for many years to UAE nationals in Abu Dhabi on their journey to creating a dream home, supporting them on every step from design through to implementation. We are excited to partner with IKEA to enhance the programme further and drive additional value for customers. This product offers an attractive range of financial and practical benefits for customers putting the finishing touches on their homes, and FAB is proud to work alongside customers to pursue their vision of a dream house."

Jayan said, "Al-Futtaim IKEA is proud to partner with FAB’s initiative to extend personal home loans for Emiratis in Abu Dhabi, under the Abu Dhabi Housing Authority (ADHA) scheme. With this partnership, we hope to strengthen and improve the confidence of our Emirati customers in choosing IKEA as their home interiors partner. Being in the region for 30 years, the expertise and knowledge gained from our multiple life at home research has helped us in understanding the need and dreams of our local customers, enabling us to create a space that can be used, loved and enjoyed by the whole family.’’

The NHL programme provides UAE Nationals in Abu Dhabi with interest-free housing loans to buy prefabricated homes, build private homes, or expand existing ones. The programme is run by ADHA, where FAB is mandated with managing, disbursement, building management and repayment on behalf of ADHA.

FAB customers can apply through the website: https://www.bankfab.com/en-ae/personal/mortgages/national-housing-loan/ikea-benefits.

© Copyright Emirates News Agency (WAM) 2021.


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