First Abu Dhabi Bank partners with Al-Futtaim IKEA on home furnishing loans

UAE lender First Abu Dhabi Bank (FAB) has partnered with IKEA, part of the Al-Futtaim Group, to offer customers of the National Housing Loan (NHL) programme, specialised personal loans to furnish their homes.

The NHL programme provides UAE nationals in Abu Dhabi with interest-free housing loans to buy prefabricated homes, build private homes, or expand existing ones. The programme is run by the Abu Dhabi Housing Authority (ADHA), where FAB is mandated with managing, disbursement, building management and repayment on behalf of the authority. FAB customers can apply through its website, official news agency WAM reported.

Futoon Al Mazrouei, acting head of consumer banking, FAB, said: “The NHL programme has been a trusted partner for many years to UAE nationals in Abu Dhabi on their journey to creating a dream home, supporting them on every step from design through to implementation. We are excited to partner with IKEA to enhance the programme further and drive additional value for customers. This product offers an attractive range of financial and practical benefits for customers putting the finishing touches on their homes, and FAB is proud to work alongside customers to pursue their vision of a dream house.”

“Al-Futtaim IKEA is proud to partner with FAB’s initiative to extend personal home loans for Emiratis in Abu Dhabi, under the Abu Dhabi Housing Authority (ADHA) scheme,” notes Vinod Jayan, managing director – IKEA UAE, Qatar, Egypt and Oman. “Being in the region for 30 years, the expertise and knowledge gained from our multiple life at home research has helped us in understanding the need and dreams of our local customers, enabling us to create a space that can be used, loved and enjoyed by the whole family.’’