Arab Bank was honored at an awards ceremony organized in Dubai by Banker Middle East/ CPI Financial on April 21, 2010 for having the ‘Best Home Finance Product’ in the region. The product, Saver Mortgage, received this award for its innovation, flexibility and the benefits it provides for its users.

The new Saver Mortgage product was launched in early December 2009 in Bahrain with the intention to roll the product out in more markets in 2010. Mr. Muntaser Dawwas, Head of Consumer Banking at Arab Bank said, “Saver Mortgage is a one-stop solution that puts customers’ savings, current, salary and mortgage accounts all under one roof; not only is it convenient, but it also gives our customers more flexibility and many benefits compared to conventional mortgage products such as substantial savings in interest, leading to a shorter repayment period, and thus the ability to maximize savings potential.”

Saver Mortgage is an in-house developed product designed to offset the amount of interest paid by customers on their mortgage loan with account balances held in linked deposit accounts with the Bank. Customers are able to link up to four accounts to their Saver Mortgage and can also choose to include accounts that belong to their first degree family members.

“We have witnessed an increase in the number of mortgage applications since the launch of this product with a large percentage of this increase coming from customers with mortgages held elsewhere,” added Mr. Dawwas. “This product is a new concept in all regions where Arab Bank has a retail presence. Standard mortgage loans offered by other banks do not offer such flexibility in being able to link customer savings to the mortgage in order to reduce the term of the mortgage. This means that the Saver Mortgage from Arab Bank is the only product in the region which can help customers make the most of their money and allow them to own their own home sooner.”

Saver Mortgage is part of a suite of products offered by Arab Bank that include: current, savings and fixed deposit accounts, debit cards, personal finance including Personal, Car and Housing loans, in addition to Credit Cards and Direct Banking Services such as:, Phone Banking (Hala Arabi), SMS Banking and our award winning Internet Banking (Arabi Online) services.