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News

ADCB partners with Taaleem to extend Sharia compliant education payment loans for students

14 April 2011

Abu Dhabi, 14 April 2011: Abu Dhabi Commercial Bank (ADCB) has recently signed an agreement with Taaleem, a leading education provider, to offer extended payment loans to students.

Ziad Azzam, CEO of Taaleem Schools, said: "We are delighted to announce that our joint venture with ADCB will enable parents who wish to plan for the education of their children to be able to do it with a more security, confidence and ease. Education loans are a way of helping parents to spread the burden of upfront costs over a longer period of time. They provide a solution for those in need of financial help, especially large families and ultimately making an enormous difference in helping students reach their educational goals."

ADCB constantly endeavours to further educational development in Abu Dhabi and the UAE as a whole, in order to embody the leadership and vision of H. H. Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE. ADCB supports each student from the earliest stages of their education right through to becoming educated professionals.

Mr. Amr Al Menhali, Head of the Islamic Banking Division at ADCB, said: "The strategic partnership with Taaleem will encourage and support education at one of the most renowned educational institutes in the UAE, giving Taaleem's students the funding to really pursue their educational goals. ADCB has always identified education as a prime driver for economic development in the region and we are proud to be able to develop this further through this partnership."

Anyone seeking further information can find details on the ADCB and Taaleem websites or contact the school's admissions offices.

The ADCB Education Loan is a key driver of sustainable education across the region, providing participants residing in the UAE with the financial aid needed to pursue their career goals. The minimum financing amount offered is AED 5,000 and the maximum is AED 250,000, depending on the applicant's eligibility. Repayment of the loan can be distributed over a period of a minimum of six months to a maximum of 12 months. The ADCB Education Loan is offered without the commitment of a salary transfer and at competitive profit rates.