UAE newcomers offered banking package
Dubai, August 15, 2012
Emirates Islamic Bank (EIB), the Islamic banking arm of Emirates NBD Group, a leading financial services organisation in the region, has launched a banking package for new entrants to the UAE.
The package includes personal and vehicle finance up to Dh75,000 ($20,420) and credit cards with one monthly salary limit, along with various account options and online banking facilities.
The special offers have been devised to facilitate new entrants to the UAE or new-to-job employees to meet their financial commitments and settle into the new environment.
“As a customer-focused bank, Emirates Islamic Bank is always on the lookout to develop special finance offers that will assist our customers to meet their immediate and long-term financial requirements,” said Faisal Aqil, deputy CEO, Consumer Wealth Management, Emirates Islamic Bank and Dubai Bank.
“The special finance packages are being offered to help new expatriates in the country, and UAE Nationals and expatriates on new jobs to cope with the expenses of setting up home, organising their conveyance and settling down.”
As per the terms, new-to-UAE and new-to-job applicants can avail of personal finance up to Dh75,000 or a maximum of five times their monthly salary from Emirates Islamic Bank.
The personal finance offer, which comes with zero processing fees, is available to applicants who are new to the UAE or on a new job, earn a minimum monthly salary of Dh10,000, and have at least one salary credited into their account. Both expatriates and UAE nationals taking on their first or new job can take advantage of this scheme.
Customers interested in availing the vehicle finance offer will have to pay a down payment of 20 per cent of the car purchase price as per current UAE Central Bank ruling.
“Most persons relocating to the UAE or starting a fresh job need access to financial assistance at that crucial juncture. Emirates Islamic Bank’s new offers will assist new-to-UAE entrants to tide over the initial challenges of setting up a new life,” added Aqil.
Other offers targeting new entrants to the UAE include credit cards that are free of charge for the first year with a credit limit up to one monthly salary. Other benefits include a free cheque book, ATM Card, account and access to Internet banking at no charge. – TradeArabia News Service
More Finance & Capital Market Stories
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs