Sharjah: The Sharjah Real Estate Registration Department (SRERD) has entered into a memorandum of cooperation with Sharjah Islamic Bank (SIB) to activate a direct electronic link between the two entities. This initiative is part of the department's strategy to digitize its services, improving the efficiency of real estate registration and financing procedures. This move aligns with the Sharjah government's ongoing digital transformation efforts and the drive towards providing interconnected smart services.
According to Emirates News Agency, the signing ceremony was attended by key figures including Abdul Aziz Ahmed Al-Shamsi, Director-General of the Sharjah Real Estate Registration Department, and Mohamed Abdalla, CEO of Sharjah Islamic Bank. The memorandum was signed by Abdulaziz Rashid Al-Saleh, Director of the Sharjah Real Estate Registration Department, and Mr. Obaid Saif bin Khadem, Head of Mortgages Department and Shareholder's Relations at Sharjah Islamic Bank.
The agreement aims to facilitate real estate procedures and transactions associated with banking services. It seeks to offer comprehensive mortgage services, including registering, amending, canceling, and releasing mortgage contracts. The collaboration allows Sharjah Islamic Bank access to the department's electronic system for conducting inquiries, verifications, and compliance transactions electronically, adhering to legislative controls. The electronic linking is set to be launched with advanced encryption protocols and high data protection standards, ensuring confidentiality and integrity of exchanged information, ultimately reducing time and effort for customers while enhancing operational accuracy.
In this context, Abdul Aziz Ahmed Al-Shamsi emphasized that the partnership marks a significant step in developing Sharjah's real estate business environment and enhancing digital integration between government bodies and financial institutions. He highlighted that enabling bank access to the department's electronic system demonstrates a commitment to transparency, accuracy, and expedited service delivery, and mentioned that cooperation with Sharjah Islamic Bank is expected to attract new investors by facilitating real estate transactions through advanced digital solutions.
Mohamed Abdalla noted that the agreement underscores the bank's commitment to supporting Sharjah Government's digital transformation initiatives, especially in real estate registration and mortgage financing. He stated that the collaboration leverages advanced digital solutions to streamline mortgage procedures, enhance operational efficiency, and improve customer experience, while supporting the sustainability of the real estate sector and boosting investor confidence in the emirate.
Overall, this agreement is seen as an extension of the department's efforts to enhance its digital infrastructure, enabling partners to benefit from services remotely, thereby supporting Sharjah's vision of fostering smart government work and stimulating economic and real estate growth through strategic partnerships with the private sector.