Hany Youssef, EVP Corporate and Commercial Business at Union National Bank added, "We are very pleased to partner with Aldar for Water's Edge ESCROW accounts
Hany Youssef, EVP Corporate and Commercial Business at Union National Bank said: "We are very pleased to partner with Aldar for Water's Edge ESCROW accounts
As a waterfront, mid-market apartment development, we are pleased with the strong demand for Water's Edge, and are confident that the escrow accounts
with UNB will further support this," stated Al Dhiyebi.
Adding a product such as the real estate development escrow account
to our portfolio of property financing models is part of our continued commitment to be one of the leading banks in exploring new and innovative Sharia-compliant products and services tailored specifically to meet the changing needs of the market place and real estate industry," Mr Murad said.
This agreement will enable Aldar Properties to have escrow accounts
for the recently announced Yas Acres, a golf and waterfront development comprising 1315 villas and townhouses, on Yas Island.
provide the borrower with an annual escrow account
Only banks that have signed an agreement with the DMA will be allowed to hold such Escrow accounts
Metro Bank, a newly formed British challenger financial services provider, on Tuesday reported the launch of two new Escrow accounts
Sahara also informed the Bench that the escrow account
has been shifted to Bank of America.
The withdrawal of monies from the Escrow Account
is only permitted based upon achieving construction milestones and subject to a schedule approved by the Ministry of Municipality and Urban Planning.
A lawyer for the New Jersey bank that held the escrow account
into which fares were supposed to have been deposited told Judge Melvin S.
Global payments company Visa Inc (NYSE: V) has said that it has decided to deposit USD400m into the litigation escrow account
created under the company's retrospective responsibility plan.
His response was that he has no idea who has sent money to the nominated Escrow account
as he does not maintain adequate records so if I want a receipt I would need to prove that the money was in fact deposited into the account.
The pension fund regulator only agreed to the Ericsson acquisition of Marconi because Telent set aside pounds 490 million in an escrow account
to cover future pension fund costs, such as workers living longer.
Later that year, the two partners agreed to place all partnership profits (after expenses) into an escrow account
until they resolved their differences.