Law & regulation

The advance written notice the bank must give before changing terms, fees or product features (30 days for RAKBANK rate changes).

Activity made itself a licensed financial activity by Art. 61(1)(h) of Decree-Law 6/2025 — promoting or marketing lender products requires a CBUAE licence.

The legal assignment of the borrower's income streams (e.g. salary) to the bank as loan security alongside the mortgage.

Assets pledged to secure the loan — the mortgaged property, insurances, cheques and sometimes guarantees or salary assignment.

All tasks and processes in granting mortgage loans where collateral is involved, e.g. appraisal, constitution of collateral, confirmation of its legal existence and enforceability.

The CBUAE consumer-protection framework (Circular 8/2020) that mandates the KFS itself, the cooling-off right and standard warning statements.

A 5-complete-business-day period after signing during which the consumer may withdraw from the contract without undue cost; waivable in writing, with fee refunds net of reasonable direct costs.

The borrower's written renunciation of the 5-day cancellation right, making the agreement immediately binding and enabling instant disbursement.

Regulatory principle requiring lenders to give borrowers sufficient, plain-language information on costs, risks, fees and rate calculation methods before and during the lending relationship.

Third-party rights or claims over a property that impede registration of the lender's security interest; titles must be free of them.

A breach (typically a missed instalment) that entitles the bank to cancel the facility, demand immediate repayment, enforce security and report to the bureau.

The formal Sharia ruling issued by the bank's scholars approving a product's structure, published on bank websites for customer reference.

Law on the Central Bank, regulation of financial institutions/activities and insurance business; effective 16 Sep 2025, replacing Decree-Law 14/2018 and criminalizing unlicensed financial promotion.

The senior, first-priority registered charge over the property in the bank's favour, required as the core security until full repayment.

The bank-level committee that reviews and approves Islamic products for Sharia compliance and supervises the donation of late-payment charity amounts.

The emirate-level property registry where the mortgage and title are registered and registration fees are paid.

Financial activities subject to CBUAE licensing and supervision, enumerated in Article 61 of Decree-Law 6/2025 (previously Article 65 of Decree-Law 14/2018).

Banks and other financial institutions licensed under the CBUAE decree-law to carry on one or more licensed financial activities, including Islamic-window institutions.

The official publication in which CBUAE regulations appear in both Arabic and English, taking effect one month after publication.

Mortgage registered over a portfolio of multiple properties in favour of the financing entity.

Governing-law clause in Islamic finance agreements: UAE law applies only to the extent it does not conflict with Sharia principles, which prevail on conflict.

The customer's irrevocable upfront promise to lease the property from the bank once the bank has acquired it.

Interim mortgage registration used for off-plan/provisional-sale properties before final title issuance.

The customer's binding promise to buy the property from the bank, typically exercised on default or early settlement in an Ijarah structure.

The mortgage perfected by registration at the Land Department, with government registration charges borne by the borrower.

The bank's legal seizure and sale of the mortgaged property on sustained default, with the borrower liable for any shortfall.

Dubai's real-estate regulator, one of the authorities to which the bank issues no-objection certificates.

CPR Article 7 principle: credit must be granted only after affordability and suitability assessment, without causing over-indebtedness, and never without documented consumer consent.

The bank's binding promise, as beneficial owner, to sell the property to the customer at the end of the lease term or on early settlement.

The CBUAE-established independent ombudsman unit for banking and insurance complaints, free to use when the bank cannot resolve a complaint within 30 business days.

A second-priority registered mortgage, taken where a first charge cannot be created (e.g. government housing scheme properties).

A cheque (undated at NBF/UAB, dated at HSBC) held as collateral, typically up to 120% of the loan amount, presentable for payment if instalments default.

The bank's right to apply balances in the customer's other accounts against amounts owed on the home loan (Arabic texts paraphrase rather than coin a fixed term; cf. المقاصة used for SC offset).

Mortgage registered over a usufruct (right-to-use/benefit) interest in a property rather than full freehold ownership.