Islamic financing buoys Tamweel's profits in first-half. According to Adel Alshirawi

DUBAI — Tamweel has introduced a 48-hour finance approval process — the fastest in the region's real estate finance industry.

The 48-hour process, involving two working days, will be carried out for all complete applications accompanied by required supporting documents. For any delays in process of such full applications, Tamweel guarantees to reimburse to the applicant an amount of Dh1,000 for every delayed working day up to a maximum of the arrangement fees paid. The new approval process is available at all Tamweel branches in the country.

Adel Al Shirawi, Chief Executive Officer, Tamweel, said: "We made our people think in hours instead of days. As per our studies, the market average time taken to process a mortgage application is between 650 and 900 hours. We did a dramatic change by re-engineering our processes to bring it to 48 hours."