Abu Dhabi: The Abu Dhabi Social Support Authority (ADSSA) has signed a Memorandum of Understanding with First Abu Dhabi Bank (FAB), designating it as the banking partner for its marriage loan service. This initiative is a component of the Emirati Family Growth Programme launched by the Department of Community Development - Abu Dhabi, aimed at enhancing quality of life and fostering social cohesion in the emirate.According to Emirates News Agency, the Memorandum of Understanding was formalized by Dr. Bushra Al Mulla, Director-General of ADSSA, and Futoon Al Mazrouei, Group Head of Consumer Banking at FAB, during a meeting held at ADSSA's headquarters in Abu Dhabi. The service, which began in September 2024, has garnered 515 applications, with 58% meeting the eligibility criteria, 32% not qualifying, and 10% under review.FAB will notify eligible applicants to fulfill the requirements for obtaining the loan, following a verification process to assess their creditworthiness in cooperation with relevant author ities. The loan service aims to assist newlywed Emirati couples financially by offering an interest-free loan of up to AED150,000, supporting them in establishing a stable married life.The initiative promotes facilitated marriage and underscores its importance in ensuring marital stability by reducing financial burdens on young couples. Dr. Al Mulla expressed pride in the progress made, highlighting the aim to provide a comprehensive system of services and programs to enable beneficiaries to achieve financial and family stability.Futoon Al Mazrouei emphasized the partnership's role in providing Emirati youth with resources to secure their financial well-being, aligning with the nation's vision and empowering the youth.To qualify for the marriage loan, applicants must be UAE nationals with Family Books issued in Abu Dhabi, registered in the "Medeem" programme, and select a wedding package provided through the programme. Applications are reviewed within 30 days via the "TAMM" platform.Eligibility criter ia also include that applicants must not have been married before, except widowers, with age requirements set at a minimum of 21 years for grooms and 18 years for brides at the marriage contract time. The groom's application is required within six months of the marriage contract, with a monthly salary cap of AED60,000, excluding pension contributions, and meeting the creditworthiness criteria.Beyond the marriage loan, ADSSA manages an extended maternity leave service for Emirati mothers in the private sector, extending leave to 90 days to support rest and childcare needs before resuming work.
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