CHAIRMAN’S STATEMENT

Key Achievements in 2020

I summarize below the key achievements for the year 2020, which made it an outstanding accomplishment for the group:

• Our investment grade Corporate Credit Ratings of Finance House were reaffirmed by Capital Intelligence, at “A3” Short Term and “BBB-” Long Term, both with a stable outlook.
• Finance House announced the launch of its new Digital Remittance Service. This service allows customers to send money easier and faster to anywhere in the world, without wasting their time waiting at exchange houses.
• Finance House introduced a new online payment gateway called “EasyPay”. It allows customers to make their payments from their personal banks to their Finance House Credit Card, Easy Finance, and Payday Finance.
• Finance House presented a new product named “Sulfah”. Sulfah offers financing tailored to UAE Nationals in the private and banking sectors only, with no need to transfer their salaries, and with a maturity period of 4 years.
• Finance House announced the launch of “Al Rabeh Business” to support local businesses / SMEs, by offering a suite of products to simplify financial services and provide enhanced earnings, ease of use, and lightning speed turnaround times. These products include Al Rabeh Guarantee, Al Rabeh Deposit, and Al Rabeh WPS.
• Finance House Securities (FHS) received the 5 Star Award as part of the “Brokers Excellence Rating” program, after the announcement of the results for the first round of evaluations by the Dubai Financial Market (DFM).
• Finance House Securities (FHS) received a 100% Performance Excellence Rating by Dubai Service Excellence Scheme (DSES) for an overall astounding performance in Q4 2020.
• Insurance House P.S.C. (IH) has been reaffirmed Long-Term Issuer Credit Rating of “BBB-” and a Financial Strength Rating of “B+” (Good), both with a stable outlook by AM Best, the international credit rating agency.
• Insurance House (IH) partnered with Injazat Data Systems LLC to participate in Hassantuk, the centralized smart fire alarm system aiming to provide the highest levels of safety throughout the UAE. Insurance House offered an exclusive discount on property insurance for all clients who registered through “Hassantuk” online portal.
• Insurance House announced that it will offer all “Fazaa” members discounts on Motor Insurance Policies. “Fazaa” members can now benefit from the best services offered by Insurance House, coupled with the most competitive prices in the market.