Dubai: Commercial Bank of Dubai, a leading bank in the United Arab Emirates, has announced a combination with Sharaf DG, a unit of the UAE-based conglomerate Sharaf Group.
The partnership will enable customers to embrace clean energy by installing solar PV systems for their homes from Sharaf DG Energy through a sustainable and digital financing option from CBD. Solar PV systems can be digitally financed via a quick loan or credit card using the CBD mobile app. The application process is transparent and hassle-free; The Emirates ID card is the only document required. Customers can enjoy a loan repayment period of up to 48 months at preferential interest rates.
The agreement was signed by Dr. Bernd van Linder, Managing Director of CBD and Mr. Nilesh Khalkho, Managing Director of Sharaf DG, during a recent event held at the Bank’s Head Office in Dubai.
Dr Bernd van Linder, CEO of CBD, said: “Sustainability is an integral part of CBD’s business strategy and we are delighted to partner with Sharaf DG Energy and offer customers the opportunity to produce their own clean energy and to take positive steps towards a climate-neutral economy in the UAE. The UAE aims to produce 75% of its energy needs from clean sources by 2050 to meet growing energy demand and ensure sustainable growth of the country’s economy. CBD is proud to support our nation’s ambitions and contribute to the UAE’s efforts to develop a more sustainable future.
Mr. Nilesh Khalkho, Managing Director of Sharaf DG, said: “Sharaf DG Energy is delighted to partner with Commercial Bank of Dubai to provide fully funded solar energy solutions to villa owners, enabling them to save on their electricity bills while paying into extended payment plans. Generating electricity from sustainable energy sources, such as solar power, provides resilience to fluctuating energy costs, which underlines the financial security of the UAE and its residents. “
Amit Malhotra, Managing Director – Personal Banking Group, CBD, said: “We are delighted to partner with Sharaf DG Energy to provide our customers with simple, digital financing solutions for the purchase of solar panels for their homes. We We have a range of financing options available, including CBD Quick Loans and Credit Cards, which are attractively priced to help customers embark on this sustainable journey.”
In line with CBD’s commitment to sustainability, the Bank has also recently launched a number of new initiatives, including an electric vehicle loan and an education loan at reduced interest rates for customers.
Mr. Ramkumar Sunkari, Corporate Head – Energy and Chief Financial Officer – Sharaf DG, said, “Having over 850 solarized private villas and over 85 megawatts of ongoing and completed solar projects across commercial, industrial and residential solar sectors , we pride ourselves on offering payment flexibility to our customers backed by quality project delivery and after-sales support enable solar customers to obtain monetary savings on electricity bills while paying for solar energy in installments.
About Dubai Commercial Bank:
The Commercial Bank of Dubai was established in 1969 and is registered as a Public Joint Stock Company (PSC). The Bank is listed on the Dubai Financial Market and is predominantly owned by UAE nationals, with 20% owned by the Investment Corporation of Dubai (ICD). Over the years, Commercial Bank of Dubai has established itself as a progressive and modern banking institution with a solid financial structure and solid management, as well as a loyal clientele and correspondent base. and constantly growing. Today, CBD is one of the leading banks in the United Arab Emirates and offers its customers a full range of retail and commercial banking products and services.
For more information, contact the CBD PR and Media team at [email protected]
About Sharaf DG Energy:
Founded in 2017, it is a wholly owned subsidiary of Sharar DG (a unit of the conglomerate of 47 Sharaf Group companies). Sharaf DG Energy aims to continue the Sharaf Group’s legacy as a leader in every industry in which it has operated since 1975. At Sharaf DG Energy, the mission is to make solar energy the largest source of sustainable energy in the WATER. Sharaf DG Energy provides a full range of energy services helping commercial and residential owners reduce their electricity bills through PPA, Lease, CAPEX and Deferred CAPEX.
For more information contact the Sharaf DG Energy team at [email protected]