Noor Islamic Bank said on Wednesday its mortgage business is 40-50% up on the start of the year, a further sign UAE banks are easing lending.
Speaking on the sidelines of the Dubai Property Society, a gathering of real estate experts, Fahd Reaz senior product manager in personal and home finance for Noor Islamic Bank said: 'Things have improved from last year, it’s a stable situation. The market has improved.'
Asked whether mortgage lending had risen compared to the beginning of 2009 Reaz said: 'Yes definitely. It’s almost 40-50% higher.'