The Umm Al Quwain Municipality Department signed a cooperation agreement with the National Bank of Umm Al Qaiwain (NBQ) to provide financing services that reduces the financial burdens of residential real estate on citizens in the UAQ emirate, in line with the state’s development policy.

The agreement was signed on behalf of the Um Al Quwain Municipality by H.E. Eng. Ahmed Ibrahim Obaid Al Ali, Director-General of the Municipality, and H.E. Adnan Al Awadhi, Chief Executive Officer of the National Bank of Umm Al Qaiwain.

The agreement provides relief from mortgage registration to the citizens of Umm Al Quwain Municipality and also customers of NBQ.

H.E. Eng. Ahmed Ibrahim Al Ali said that this agreement comes within the framework of the Department's vision and strategy in developing the services provided to its customers to promote sustainable development in Um Al Quwain. They aim to build bridges of constructive cooperation with all leading institutions and entities in the country, activate the partnership between the government and private sectors, and benefit from the services provided by other entities to offer distinguished services that benefit citizens and residents in UAQ emirate.

The CEO of NBQ, Adnan Al Awadhi, stressed that the signing of the agreement comes within the framework of the bank's social responsibility in providing support and facilities for citizens to own their first home. He explained that NBQ seeks, through these agreements, to reach all citizens and facilitate and speed up the process of procedures, saving time. He added that the agreement is in line with the bank's objectives to improve the quality of life and well-being of citizens, as home ownership is of great importance in building strong, healthy, and stable communities, aligning with the public objectives of providing all the elements of happiness and well-being for members of society.