Emirates Islamic Partners With SRERD To Activate Electronic Mortgage Services For Enhanced Efficiency

The Sharjah Real Estate Registration Department (SRERD) has partnered with Emirates Islamic bank to establish a direct electronic link between the two entities. This initiative is part of SRERD's strategy to digitise services, improving the efficiency of real estate registration and financing processes. It aligns with Sharjah's broader digital transformation goals, aiming to provide interconnected smart services.

The agreement was formalised by Abdul Aziz Ahmed Al-Shamsi, Director-General of SRERD, and Farid Al Mulla, CEO of Emirates Islamic. Several directors and officials from both organisations attended the signing. The collaboration aims to simplify real estate procedures and banking transactions. It will offer mortgage services and facilitate actions like registering, amending, cancelling, and releasing mortgage contracts.

Emirates Islamic will gain access to SRERD's electronic system for conducting inquiries and compliance transactions electronically. This access adheres to legislative controls and allows the bank to perform verifications without physical presence. The electronic link will use advanced encryption protocols to ensure data protection, maintaining confidentiality and integrity.

Abdul Aziz Al-Shamsi stated, "This partnership comes within the framework of our ongoing efforts to develop the real estate business environment in the emirate, and achieve a high level of digital integration between government agencies and financial institutions. It will support the quality of life and enhance business in Sharjah. Enabling banks to have direct access to the department's electronic system for mortgage transactions and digital services reflects our commitment to providing services based on transparency, accuracy, and speed of completion."

Farid Al Mulla expressed pride in partnering with SRERD for this initiative aimed at streamlining mortgage services. He said, "Emirates Islamic is proud to partner with the Sharjah Real Estate Registration Department in this important initiative to streamline mortgage services. This collaboration underscores our commitment to remain at the forefront of driving digital innovation to enhance customer experiences. Aligning with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities, Emirates Islamic will continue to secure strategic partnerships, to deliver innovative products and enhance customer experience."

Supporting Economic Growth

This agreement extends SRERD's efforts in enhancing its digital infrastructure. By enabling partners like Emirates Islamic to benefit from remote services, it supports Sharjah's vision for smart government operations. Such strategic partnerships with private sectors aim at stimulating economic growth in real estate through improved digital frameworks.

Overall, this collaboration signifies a significant step towards modernising real estate transactions in Sharjah while ensuring efficient service delivery through technological advancements. The focus remains on improving customer experience by reducing time and effort involved in these processes while maintaining high standards of accuracy and security.

With inputs from WAM