Umm Al Qaiwain- 6 November 2025: The National Bank of Umm Al Qaiwain (NBQ) has signed an agreement with the Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department (DLD), to become an accredited Trustee Bank authorized to manage and hold real estate project escrow accounts in Dubai.
NBQ will be entrusted with opening and managing escrow accounts for developers undertaking real estate projects in the emirate. The initiative supports RERA’s mission to enhance transparency, safeguard investor funds, and ensure the highest standards of governance and compliance within Dubai’s thriving property sector.
Mr. Adnan Al Awadhi, CEO of NBQ, said: “We are proud to partner with RERA Dubai as an approved Escrow Accounts Trustee. Our partnership with RERA underscores NBQ’s commitment to keep enhancing the range of its products and services for the customers. This partnership further strengthens NBQ’s position as a key player in UAE’s banking industry and we are confident that our innovative Escrow product shall be of great value addition to the real estate industry in Dubai.”
The escrow account system was introduced by RERA to regulate the flow of funds in real estate development projects and ensure that developers use collected payments exclusively for project-related expenses. The framework plays a key role in maintaining market stability and supporting Dubai’s broader economic and investment strategies.