Business & Finance Club - Abu Dhabi : Abu Dhabi Islamic Bank (ADIB) said it has signed a MoU with Sheikh Zayed Housing Programme (SZHP) to provide Islamic banking services to the Programme’s employees and their beneficiaries.

Under the agreement, Sheikh Zayed Housing Programme employees will now be able to avail of ADIB banking services without leaving their offices or visiting a branch, said a statement from SZHP.

This agreement between a government institution and the private sector strengthens their mutual co-operation and partnership in all areas of finance, it added.

The agreement was signed by Mohammed Abdulaziz, acting director general of Sheikh Zayed Housing Programme and Mohammed Al-Shamsi, from ADIB, in the presence of a number of senior executives from both sides.

'The agreement is in line with Sheikh Zayed Housing Programme’s efforts to develop strong ties with ADIB, a leading regional Islamic bank, distinguished by its Shari’a compliant banking services as well as its branch network spread across the UAE,' said Abdulaziz.

As per the deal, ADIB representatives will visit the workplace of SZHP employees to help them open bank accounts, deliver debit and ATM cards along with their passwords and cheque books.

They will assist with all their banking transactions other than withdrawals and deposits. ADIB will also provide special discounts on all financing solutions provided to all SZHP employees at competitive profit rates.

'It will assist the needs of our employees and save them time and effort. The agreement will have a positive productivity impact on a large number of our employees as it will allow them to do their banking transactions without leaving their work places,' he added.

He emphasized that the program depends on signing this kind of agreements to achieve a number of key objectives. They aim to provide the best services to staff and clients along with the appropriate working environment to increase job satisfaction and productivity rates.

Al-Shamsi said, 'We are pleased to co-operate with the SZHP as it is one of the most important organizations that secure residential stability and adequate housing for the benefit of Emirati families.'

'ADIB is committed to be involved in making banking services and products simple and effective to serve the needs of the local community it works within,' he added.

The SZHP has signed 10 MoUs during the first half of 2010 with both public and private sector organizations to strengthen and consolidate mutual relations, open channels for sharing knowledge and to develop joint working mechanisms which serve clients.