FAB partners with Al-Futtaim Ikea for loans to National Housing Loan clients – News
First Abu Dhabi Bank (FAB) has partnered with Ikea, part of the Al-Futtaim Group, to provide National Housing Loan (NHL) clients with specialized personal loans to furnish and decorate their homes.
These personal loans will provide NHL clients with a range of benefits, including personalized and private advice on interior design and furnishings, as well as low rates and a fast application process.
The partnership agreement was signed by Fahad Al Shaer, director of FAB Islamic and NHL and Vinod Jayan, general manager of Ikea UAE, Qatar, Egypt and Oman.
Futoon Al Mazrouei, Acting Head of Consumer Banking Services, FAB said, âThe NHL program has been a trusted partner for many years for UAE nationals in Abu Dhabi on their journey towards the creation of a dream home, supporting them every step of the way from concept to implementation. . We are excited to partner with Ikea to further improve the program and generate added value for customers. This product offers an attractive range of financial and practical benefits for clients putting the finishing touches on their home, and FAB is proud to work alongside clients to pursue their vision of a dream home.
Vinod Jayan, General Manager of Ikea UAE, Qatar, Egypt and Oman, said: âAl-Futtaim IKEA is proud to partner with FAB’s initiative to expand personal mortgage loans to Emiratis in Abu Dhabi , as part of the Abu Dhabi Housing Authority (ADHA) program. With this partnership, we hope to strengthen and improve the confidence of our Emirati customers in choosing Ikea as their interior design partner. “
âBeing in the region for 30 years, the expertise and knowledge gained through our extensive research into home living has helped us understand the needs and dreams of our local clients, allowing us to create a space that can be used, loved and appreciated by the whole family. With the help of our relevant local furniture designs and products, we hope to achieve this, âhe added.
The NHL program offers UAE nationals in Abu Dhabi interest-free home loans to buy manufactured homes, build private homes or expand existing ones. The program is managed by ADHA, where FAB is mandated for management, disbursement, building management and reimbursement on behalf of ADHA. FOB customers can apply through the website.