Built to inform

Sign up for the daily newsletters

No, Thank you

Rera MoU allows United Bank to open accounts for OAs in Dubai

Dubai Land Department’s regulatory arm has signed the MoU to improve services for OAs in the emirate

Dubai's Rera is DLD's regulatory arm.
Logistics Middle East
Dubai's Rera is DLD's regulatory arm.

Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with the United Bank Limited, as part of which its regulatory arm Real Estate Regulatory Agency (Rera) will authorise United Bank Limited to open bank accounts for real estate owners' associations (OAs), in accordance with the provisions of local law, and other additional services.

The MoU was signed by Rera’s chief executive officer, HE Marwan bin Ghalita, and United Bank Limited’s head of operations, Syed Asghar Hussain.

Commenting on the MoU, Bin Ghalita said the purpose of the agreement was to provide more banking options to OAs and ensure they are treated in a fair and transparent way.

He added: “We spare no efforts to facilitate the work of OAs, and help them provide the best possible services to all residents of freehold areas.

“Given the broad base of United Bank Limited’s clients and its long-term business in the country, it will be able to provide its advanced banking services to OAs in an optimal manner.”

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 753
Nov 09, 2019