"Sharjah real estate" and"Sharjah Islamic Bank" They launch mortgage services electronically

2 hours ago

2 minutes read

SHARJAH, 30 JANUARY / WAM / Yesterday, the Real Estate Registration Department in the Emirate of Sharjah signed a memorandum of cooperation with the Sharjah Islamic Bank to activate the direct electronic link between them, in a step that reflects their commitment to developing real estate and banking services and facilitating mortgage procedures through an integrated digital system, in line with the directions of the Sharjah government in digital transformation and providing smart and interconnected services.

The memorandum was signed in the presence of His Excellency Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department, and His Excellency Mohammed

Abdullah, CEO of Sharjah Islamic Bank, His Excellency Abdul Aziz Al Saleh, Director of the Sharjah Real Estate Registration Department, and Obaid Saif bin Khadem, Head of Mortgage and Shareholder Relations Department at the Bank.

The memorandum aims to simplify and accelerate the procedures associated with real estate services related to bank financing by allowing the implementation of mortgage transactions electronically, including registering, amending, canceling, and releasing mortgage contracts without the need for personal presence, which contributes to increasing performance efficiency and reducing time and effort for investors and customers.

Under the memorandum of understanding, Sharjah Islamic Bank will be able to benefit from the electronic system of the Real Estate Registration Department to conduct inquiry, verification and reconciliation processes electronically in accordance with the approved roles and powers and in line with the applicable legislative frameworks, while the latest encryption protocols and the highest standards of data security and protection will be adopted to ensure the confidentiality, accuracy and integrity of the information exchanged between the two parties.

His Excellency Abdul Aziz Ahmed Al Shamsi stressed that this partnership represents a qualitative step in developing the real estate business environment in the emirate and enhances digital integration between government agencies and financial institutions, which reflects positively on the quality of services and the ease of doing business, indicating that enabling banks to have direct access to the department’s electronic system reflects its commitment to providing real estate services based on transparency, accuracy and speed of completion.

Al Shamsi noted that cooperation with Sharjah Islamic Bank also contributes to attracting new investors and clients, through the electronic transformation system that allows investors to complete their real estate transactions easily and conveniently and reduces time and effort, thus enhancing confidence and stimulating real estate activity in the smiling emirate.

For his part, His Excellency Mohammed Abdullah said that the memorandum of understanding comes within the framework of Sharjah Islamic Bank’s commitment to support the Sharjah government’s directions towards digital transformation and the development of the government services system, especially in the real estate registration and real estate financing sector. This cooperation with the Real Estate Registration Department embodies our keenness to harness advanced digital solutions to facilitate mortgage procedures, enhance the efficiency of operations, and improve the customer experience.