Abu Dhabi City Municipality (ADM) and Abu Dhabi Islamic Bank (ADIB) have collaborated to launch the first global digital mortgage certificate on August 26, making the UAE the first in the world to offer online real estate services through a smart services hub, state-run WAM news agency reports.
The move is part of the UAE government’s plan to boost the standards of its services to measure up to clients aspirations and correspond with international norms.
Eisa Omair Al Mansouri, Head of Lands and Real Estate Sector at ADM, highlighted that the municipality has fitted the system with highly secure and protective systems to sustain confidentiality and information privacy, according to WAM.
“Once registered, the client can smoothly log into the system and process transactions in a highly secure manner,” Al Mansouri was quoted as saying.
So far, ADM has lured six leading banks as partners in the system, while calling for more to join.
The e-mortgage system can also be utilized for housing loans, commercial funding, security mortgage, mortgage redemption and others, Al Mansouri added.