Dubai Land Department and Mashreq Bank Sign E-Mortgage Deal
Dubai Land Department and UAE lender Mashreq Bank unveiled a blockchain-based electronic mortgage system to speed up and strengthen the home loan registration process, as the emirate looks to digitalise its services and encourage greater investment in real estate.
“The development and launch of the new e-mortgage system comes as part of our ongoing efforts to enhance automation applications and systems in our transactions to reduce paper transactions and the number of visits,” said DLD director general Sultan Butti Bin Mejren in a statement on Tuesday.