UAE – Mubasher: Mohammed Bin Rashid Housing Establishment (MBRHE) has signed a memorandum of understanding (MoU) with United Arab Bank (UAB) to finance the housing of citizens, state-run news agency WAM reported on Thursday.

The deal was signed by Sami Abdullah Gargash, executive director of the MBRHE, and Sheik Mohammed bin Abdullah Al Noymi, deputy executive director of UAB.

The move comes along with MBRHE’s Al-Usr initiative launched in the period between 2013 and 2015 in a bid to ease the financing of housing for the citizens of the UAE.

The deal aims at stepping up the partnership between state institutions and the private sector and combining efforts to support citizens benefiting from the institution's services by providing banking services for housing finance.

It also targets facilitating the procedures for obtaining housing finance required by one station that saves time and effort to customers.