UAE’s Al Maryah Community Bank unveils new financial solutions ‘Raha’

By Shilpa Annie Joseph, Official Reporter
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Al Maryah Community Bank
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UAE’s first digital bank, Al Maryah Community Bank has launched the debt consolidation service “Raha”, in order to provide convenient payment plans for customers.

The Raha service aims to achieve the comfort and financial well-being of customers by providing the best and most effective financial solutions in managing money, and debts, as well as ensuring customers make the most of their money.

This comes within the bank’s strategy to support the community and improve the financial health of its members through distinctive solutions that contribute to properly manage and organize funds and financial planning for the future.

Mr. Sahar Affandi, Head of Retail and Financial Services at Al Maryah Community Bank, commented that, “We set a mission as a bank and today I am proud and excited to say that we are here with our unique and comprehensive product “Raha”; a bundle of financial solutions focusing on our community financial wellbeing.”

“Mbank is here as your ONE-STOP choice of repayment plans, financial flexibility, and easing your financial anxiety that too with remarkable seamless digital experience. “Raha” is a testament to our commitment to support the community in line with our goals and UAE’s vision,” Mr. Affandi added.

‘Raha’ provides the bank’s customers with a solution to consolidate all their debts and reschedule financial payments in the best and most efficient way to pay off all their debts and cut down their monthly payments, in addition to obtaining a vacation from installments for a period of up to 3 months.

The bank stated that “the benefits of “Raha” include several financial facilities and special services when transferring salary, which can be obtained directly through the Mbank UAE app in a unique digital banking experience, including personal loans with a value of up to 20 times the transferred salary, “Ziyada” an overdraft facility with a value of up to twice the transferred salary, in addition to obtaining 3 free cheque books, and monthly opportunity to win a Zero-interest loan of up to $40,838 (AED 150,000).”

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