FAB Islamic, Abu Dhabi Housing Authority partner to offer loans to eligible Emiratis
ABU DHABI (ALETIHAD)First Abu Dhabi Bank (FAB), through its Islamic and National Housing Loan (NHL) divisions, has announced a significant collaboration with the Abu Dhabi Housing Authority (ADHA) to provide Abu Dhabi government subsidised Islamic home financing to eligible UAE citizens.The service supports the UAE's Year of Community initiative which aims to enhance family financial stability and increase sustainable homeownership across the nation.The strategic partnership positions FAB as the key financial partner for ADHA beneficiaries by offering a comprehensive and fully digitalised housing solution.Customers will benefit from a secured FAB NHL loan, combined with additional Shari'ah-compliant home financing from FAB Islamic available at competitive profit rates starting from 3.89% fixed for five years.As part of the agreement, the Abu Dhabi government will subsidise 50% of the profit rate on the additional Islamic home financing - up to Dh500,000. Any financing above this cap will continue to be offered at the lowest available market rate, providing Emiratis with greater financial flexibility and peace of mind.This new FAB Islamic and FAB NHL financial solution supports ADHA's mission to empower UAE nationals with access to affordable housing, aligning with the government's vision to enhance community wellbeing through strategic private sector collaboration.In addition to the subsidised profit rate, eligible customers will enjoy a range of exclusive value-added benefits designed to ensure a seamless home finance experience.FAB's dedicated home finance centres will offer direct access to expert relationship managers, supported by a responsive after-sales service team and helpline.Customers will benefit from a range of services and an instant digital application process for their National Housing Loan through the FAB NHL app, using UAE PASS, without the hassle of visiting a physical branch.Customers will also have the flexibility to partially settle their finance at any point throughout the finance period. The same competitive rate will apply even for customers seeking for Islamic home finance amount above Dh500,000, ensuring continued affordability regardless of financing size.New customers who transfer their salary to a FAB Islamic Savings Account or obtain a FAB Emirati Islamic Credit Card will receive Dh10,000 in cashback rewards and enjoy a waiver of fees for the first year.Jasim Al Hammadi, Director of Loans and Benefits at the Abu Dhabi Housing Authority, commented, "At the Abu Dhabi Housing Authority, we are committed to empowering UAE Nationals to choose homes that meet their needs by providing housing finance solutions tailored to the diverse requirements of Emirati families.Through this partnership, First Abu Dhabi Bank offers additional home finance solutions above the Dh1.75 million housing loan amount, for those who wish to apply, with 50% government-supported profit rates. This reflects the Authority's dedication to offering solutions and benefits that meet citizens' needs and promote long-term family stability.'Fahad Al Shaer, Head of FAB Islamic, said, "FAB Islamic remains committed to building strong community partnerships and delivering market-leading Islamic banking solutions that enable more Emiratis to own, build, or renovate their homes with confidence."Our collaboration with ADHA builds on this commitment, offering a simplified and Shari'ah-compliant home financing solution that supports the UAE's vision for community empowerment. Through this service, we are proud to provide Emirati families with greater financial flexibility, dignity, and peace of mind as they invest in their future homes and create a successful future."
Khaled Alzaabi, Head of FAB National Housing Loans, added, "Our collaboration with ADHA reflects our continued efforts to enhance housing solutions that directly serve the needs of Emirati citizens. By subsidising the profit rate on additional Islamic home financing and strengthening strategical partnerships with trusted suppliers, this solution aims to ease financial pressures and contribute to greater family stability supporting our goal of a more inclusive and empowered community.'
Year of Community
Continue full coverage
Source: Aletihad - Abu Dhabi
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
4 hours ago
- Gulf Today
‘Back to School' campaigns take off with massive discounts
Leading malls and retail outlets across are now fully gearing up with unique discount campaigns to give relief to families ahead of the opening of the new academic year. The Union Coop has officially launched its annual 'Back to School' campaigns as the initiative reaffirms the retailer's commitment to offering high-quality and diverse school supplies that cater to the needs of students, parents and teachers, while keeping pace with the latest developments in education. Commenting on the launch, Mohamed Al Hashemi, CEO of Union Coop, said: 'At Union Coop, we strive to provide a seamless shopping experience for families and students at the beginning of every academic year. This is achieved through a wide selection of top-quality products, ranging from the latest stationery and office supplies to modern educational electronic devices that have become essential tools in today's learning environment.' Furthermore, the various discount promotions to cover school uniforms, shoes and stationery items are also live at all branches of Lulu Hypermarket, Carrefour and other leading retail outlets. DSS continues to bring a summer of thousands of offers and exclusive savings with its final retail season starting today, specially curated for Back to School. Running from 11 to 31 August, the highly anticipated citywide offers deliver unmissable value of up to 75 per cent off for families and students to help them save and stock up on everything they need for the new term, be it school essentials, uniforms, tech, footwear, or more. The DSS Back to School season promises a strong start to the academic year and a summer well spent for residents and visitors in Dubai, rounding off what has been the most value-packed edition of DSS to date. Organised by Dubai Festivals and Retail Establishment (DFRE), families can enjoy bundle deals, buy-one-get-one-free offers, and limited-time promotions at Dubai's leading malls, with additional activations including cashback incentives, bonus point weekends, and the chance to win school fees. At the heart of the season is the Modesh Scholarship, giving families the chance to win their share of Dhs200,000 in scholarships. Shoppers simply need to spend Dhs200 or more at participating malls. Families can also take part in the Back to School – Spend & Win AED 25,000, running at Dubai Festival City Mall until 31 August. Those who spend Dhs500 or more at participating stores stand the chance to win Dhs25,000 towards their child's school fees. The winner will be announced on 3 September.
Zawya
11 hours ago
- Zawya
UAE banks outperform GCC peers despite geopolitical headwinds
The UAE banks outperformed their GCC peers, supported by a positive macroeconomic environment and the economy's resilience to recent geopolitical headwinds, CI Capital said in a new report. The brokerage named Abu Dhabi Commercial Bank (ADCB) as its top pick for its cheap valuation and high growth profile. First Abu Dhabi Bank (FAB) ranked next on its solid banking indicators, while Emirates NBD (ENBD) stood out on valuation. The UAE banks' profitability remains solid, with 2025 return on equity outpacing GCC peers by 5.8 percentage points (pp). Stronger-than-expected loan performance in the first half of 2025 (+9.5% year-to-date, on average, for the banks under its coverage) paves the way for growth in the mid-high teens for the year. 'We flag Abu Dhabi Islamic Bank (ADIB) and Dubai Islamic Bank (DIB) as outperformers on loan growth for 2025 (+19% and +16%, respectively), driven by the former's strong retail offering and the latter's healthy retail home finance franchise and diversified corporate loan pipeline,' the brokerage said. While CI Capital expects margin pressure in the second half of the year amid further rate cuts, return on equity (RoE) is anticipated to stay healthy at an average of 19.7% in 2025. UAE banks' ample liquidity (average loan-to-deposit ratio at 80.3% as of June 2025, 22 pp below Saudi peers' average) positions them to benefit from Saudi Arabia's higher growth potential via cross-border lending. The brokerage has upgraded target prices across its UAE banks coverage. ADCB, FAB and ENBD were rated overweight, with target prices (TP) of AED 19.5, AED 22 and AED 32 per share, respectively. ADIB and DIB have neutral ratings with target prices of AED 23.5 and AED 10.5 per share. (Editing by Brinda Darasha;
Al Etihad
a day ago
- Al Etihad
FAB Islamic, Abu Dhabi Housing Authority partner to offer loans to eligible Emiratis
11 Aug 2025 20:41 ABU DHABI (ALETIHAD)First Abu Dhabi Bank (FAB), through its Islamic and National Housing Loan (NHL) divisions, has announced a significant collaboration with the Abu Dhabi Housing Authority (ADHA) to provide Abu Dhabi government subsidised Islamic home financing to eligible UAE service supports the UAE's Year of Community initiative which aims to enhance family financial stability and increase sustainable homeownership across the strategic partnership positions FAB as the key financial partner for ADHA beneficiaries by offering a comprehensive and fully digitalised housing will benefit from a secured FAB NHL loan, combined with additional Shari'ah-compliant home financing from FAB Islamic available at competitive profit rates starting from 3.89% fixed for five part of the agreement, the Abu Dhabi government will subsidise 50% of the profit rate on the additional Islamic home financing - up to Dh500,000. Any financing above this cap will continue to be offered at the lowest available market rate, providing Emiratis with greater financial flexibility and peace of new FAB Islamic and FAB NHL financial solution supports ADHA's mission to empower UAE nationals with access to affordable housing, aligning with the government's vision to enhance community wellbeing through strategic private sector addition to the subsidised profit rate, eligible customers will enjoy a range of exclusive value-added benefits designed to ensure a seamless home finance dedicated home finance centres will offer direct access to expert relationship managers, supported by a responsive after-sales service team and will benefit from a range of services and an instant digital application process for their National Housing Loan through the FAB NHL app, using UAE PASS, without the hassle of visiting a physical will also have the flexibility to partially settle their finance at any point throughout the finance period. The same competitive rate will apply even for customers seeking for Islamic home finance amount above Dh500,000, ensuring continued affordability regardless of financing customers who transfer their salary to a FAB Islamic Savings Account or obtain a FAB Emirati Islamic Credit Card will receive Dh10,000 in cashback rewards and enjoy a waiver of fees for the first Al Hammadi, Director of Loans and Benefits at the Abu Dhabi Housing Authority, commented, "At the Abu Dhabi Housing Authority, we are committed to empowering UAE Nationals to choose homes that meet their needs by providing housing finance solutions tailored to the diverse requirements of Emirati this partnership, First Abu Dhabi Bank offers additional home finance solutions above the Dh1.75 million housing loan amount, for those who wish to apply, with 50% government-supported profit rates. This reflects the Authority's dedication to offering solutions and benefits that meet citizens' needs and promote long-term family stability.'Fahad Al Shaer, Head of FAB Islamic, said, "FAB Islamic remains committed to building strong community partnerships and delivering market-leading Islamic banking solutions that enable more Emiratis to own, build, or renovate their homes with confidence."Our collaboration with ADHA builds on this commitment, offering a simplified and Shari'ah-compliant home financing solution that supports the UAE's vision for community empowerment. Through this service, we are proud to provide Emirati families with greater financial flexibility, dignity, and peace of mind as they invest in their future homes and create a successful future." Khaled Alzaabi, Head of FAB National Housing Loans, added, "Our collaboration with ADHA reflects our continued efforts to enhance housing solutions that directly serve the needs of Emirati citizens. By subsidising the profit rate on additional Islamic home financing and strengthening strategical partnerships with trusted suppliers, this solution aims to ease financial pressures and contribute to greater family stability supporting our goal of a more inclusive and empowered community.' Year of Community Continue full coverage Source: Aletihad - Abu Dhabi
