Islamic Escrow Management at your service
In the world of business, escrow stands as a vital tool for fostering trust and security in transactions. When parties agree on a deal, funds are deposited into an escrow account managed by a neutral third party to demonstrate commitment and safeguard the interests of all those involved.
We provide Shari’ah Compliant escrow services that are secure, robust, and transparent within a regulated framework. For Real Estate, consider us your reliable and expert partner for your escrow management needs.
Real Estate
Real Estate
RAKislamic Real Estate Escrow Account
A RAKislamic escrow account in the UAE is responsible for overseeing and managing off-plan property development under strictly regulated legislations. This makes the UAE a highly sought-after property investment attraction for global investors.
RAKBANK, a registered trustee bank with DLD-RERA, empowers developers to thrive in Dubai’s dynamic property market by offering specialized real estate services and comprehensive financial solutions.
At RAKBANK(RAKislamic), we specialise in streamlining escrow processes, providing a distinct advantage supported by our team's expertise and extensive experience. With our deep-rooted presence in Ras Al Khaimah, our home emirate, we possess a unique advantage in navigating local regulations and working closely with regulators. This enables us to offer tailored solutions and ensure the efficiency and security of your real estate transactions.
RAKislamic Real Estate Escrow Account Requirements
To open a RAKislamic Escrow Account, all you’ll need are the following required documents as well as those requested by the regulator /account trustee:
- Title deed
- Trade license
- Project registration certificate
- Developer registration certificate
- Escrow agreement signed by developer
- Signed account opening form /letter
- Passport copies of authorised signatories
- Developer’s AML/CFT controls like other DNFBPs
- Project performance guarantee (if applicable)
- RERA approval for opening an account with RAKBANK (RAK-RERA-Letter/DLD-RERA TAS reference number).
Contact us
If you're interested in our Escrow Services, don't hesitate to get in touch with us.
Our team will be more than happy to help you find the best solution for your business needs.
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