Escrow Services
Noor Islamic Bank provides a reliable and seamless escrow trust account management solution to Developers to facilitate real estate projects in line with the regulations specified by Dubai’s Real Estate Regulatory Agency (RERA).
NIB’s escrow services provide the following value added benefits to the trust account holders:
Complete control and accuracy relating to
- Project details and cash flow
- Deposits made by unit holders
- Regulatory compliance for payments made from the trust account
- Bulk and straight through transaction handling capability
- Ensuring a complete audit trail on deposits and payments
- Faster transaction processing
Management Information & Reporting
- Unit holder schedules as per deposit made and payments remaining
- MIS to validate deposits made into the account
- MIS to validate payments made through the account by type
- Flexibility to add more reports as per requirement