Emirates Islamic Bank, one of the leader banks in Real Estate services, brings you another new service, the Escrow Account. Escrow Account will help you manage your project receivables in compliance with the regulations set by the Land Department of Dubai Law number 8 of 2007 concerning guarantee accounts of real estate developments in the emirate of Dubai. In line with the vision of the Ruler of Dubai, Emirates Islamic Bank offers a specially designed Escrow account to match with different developers and value added services like guidance on completion of Land Department requirements, project administration services, and home finance for end user, detailed MIS as per requirements for both the Developers and DLD.

A dedicated Relationship manager will be your assistant and guide to the issue, as you are used to from Emirates Islamic Bank.

What are the features of EIB'S Escrow account, what do you get?

• Fully compliant with Dubai Land Department (DLD) requirements
• Fully compliant with Sharia principles
• Minimal documentation
• Guidance on completion of Land Department formalities
• Dedicated Relationship Managers
• Very user friendly Account set up
• Good infrastructural support including basic MIS
• Smart business facility
• Competitive pricing
• In-house experience: Engineering & Business
• Network of 22 Branches
• Payment to both contractors & you as per Progress Payment Certificates (PPCs)
• Account Receivables & Payables update
• Full Transparency

Why Emirates Islamic Bank Escrow account?

• No minimum A/C Balance
• No A/C opening charges
• Free Smart Business / Internet Banking
• Savings Accounts i.e. higher profit payout compared to market

What do you need to open an Escrow Account?

• Land Department approval.
• Escrow Account Agreement.
• Land Title Deed in name of developer.
• Account opening for sign by authorized signatory
• Trade License, Commercial Registration & Chamber of Commerce Certificate.
• Passport copy (ies) of authorized signatories.
• Approved Cash flows
• Any other documents or data that may be required by the bank at later date.

Why wait, we are a phone call away, as usual, we assure quality and we stick to our principles of Sharia Compliance, excellent service and commitment to society.

Mr. Saad Soboh Mob +971504774653
Mr. Amin Hattab mob +971505446869

E-mail: escrowaccount@emiratesislamicbank.ae