CHAIRMAN’S STATEMENT

Key Achievements in 2023

Summarize below the key achievements for the year 2023, which made it an outstanding accomplishment for the group:

• In our dedication to responsible business practices, we implement lending strategies aimed at fostering financial accessibility within the communities we serve. In our aim to transform the credit card offerings for UAE nationals, Finance House proudly launched its revolutionary credit card, “Forsa”, offering unmatched benefits. UAE nationals gain the unprecedented opportunity to consolidate their credit card debts into a single card, unlocking substantial savings on interest rates paid on other credit cards with flexible repayment options.
• Finance House is known for its commitment to innovation and leadership, proudly announces its latest achievement as one of the pioneering financial institutions to adopt the revolutionary Aani instant payments platform making the technology available to its customers through the Finance House Mobile App. Aani represents a progressive technology that is poised to transform the traditional landscape of payments and financial transactions in the UAE. This transformative change is led by the Central Bank of the UAE (CBUAE) and El Etihad Payments.
• Finance House was amongst the 10 leading companies signed the MoU at the ‘Make it in the Emirates‘ Forum, supporting Abu Dhabi’s Industrial Strategy and enriching our financial ecosystem! The “Make it in the Emirates” forum, organized by the Ministry of Industry and Advance Technology (MoIAT) was held in Abu Dhabi on June 2023. The forum aimed to promote growth of national industries and discuss opportunities for partnership and cooperation in the industrial sector, thereby developing UAE as a global manufacturing hub.

• Finance House and the Emirates Entrepreneurship Association (EEA) have joined forces through a Memorandum of Understanding (MoU) to drive the growth and development of Micro, Small, Medium Enterprises (mSMEs) throughout the UAE. Under this agreement, Finance House LLC, a subsidiary of the Finance House Group, will offer a range of financial facilities to EEA members, provide competitive deposit rates, and conduct awareness sessions on business finance.
• Finance House is proud to support Small and Medium Enterprises (SMEs) and homegrown businesses that contribute to the growth of the national economy. The Emirati Doll Project, developed by an Emirati woman, captures the essence of our customs and heritage. The Dolls have been distributed to our clients, business partners as corporate giveaways.
• Finance House remains committed to Al Etihad Credit Bureau (AECB), a key governmental entity shaping the UAE’s financial landscape. By championing responsible borrowing and contributing to financial stability, Finance House aligns with AECB’s dedication to responsible lending, risk management, and financial transparency, as highlighted in their meeting.

• Insurance House PJSC launched of its Easy Payment Plan specifically designed to cater to the specific requirements of small to medium-sized enterprises (SMEs) seeking Group Health Insurance. This pioneering offering aims to deliver utmost convenience, flexibility, and cost-effectiveness to businesses, ensuring the provision of extensive health coverage for their valued employees. Leveraging Finance House’s unparalleled backing, Insurance House draws upon the expertise to deliver the installment offering at ZERO interest rate.
• Insurance House PJSC continued its partnership with ADCB to provide our customers with the opportunity to pay with their ADCB Touchpoints to pay and redeem points for their Motor Insurance Policy or any other Insurance Policy at Insurance House.
• Insurance House PJSC and Copart UAE Auctions have signed an Agreement for digitally automated auction services. Copart offers vehicles for sale at its online auctions on behalf of Insurance House. By partnering with a renowned entity like Copart, we aim to enhance our digitally automated auction services, ensuring efficiency and value for our clients.