SIB launches 'Zoud' package for UAE government employees

The launch event took place at YourSpace Hall in Aljada, attended by His Excellency Mohamed Abdalla, CEO of Sharjah Islamic Bank, and His Excellency Abdullah Ibrahim Al Zaabi, Chairman of the Sharjah Department of Human Resources, along with several senior officials and representatives from government entities.

Innovative banking solutions and benefits for government rmployees

Commenting on the initiative, Nabil Abou Alwan, Head of Retail Banking at Sharjah Islamic Bank, highlighted that the new package is designed to provide government sector employees across all UAE with special profit rates, cash rewards on covered cards, and opportunities to win valuable prizes through promotional campaigns. He explained that UAE nationals can apply for financing from their first day of employment, while expatriate employees are eligible upon receiving their first salary. The exclusive profit rates include personal finance through debt transfer with a fixed annual profit rate starting at 2.49%, along with a grace period of up to 150 days for the first installment and the option to defer two installments annually. For auto finance, the package offers a fixed annual profit rate starting at 1.79%, with financing of up to AED 1 million and flexible repayment terms of up to 60 months.

Abou Alwan emphasized SIB’s commitment to oofering the best financial and banking services for government employees across federal and local ministries, authorities, and institutions. He noted that the new package aims to simplify access to banking benefits and financial solutions that support employees' financial well-being while providing them with added value and an enhanced banking experience. The launch of this upgraded "Zoud" package follows its overwhelming success in the past two years, during which it witnessed strong demand from government employees. This success is attributed to the ongoing collaboration between SIB and the "Waffer" Government Discount Program under the Sharjah Department of Human Resources.

Welcome rewards & exclusive promotions

As part of its covered card offer, new applicants will receive a welcome bonus of AED 500 upon activating the card within 60 days of issuance and spending AED 5,000 during this period through retail or online purchases. Additionally, cardholders will enjoy 10% cashback with the Cashback Card and 50,000 Smiles points with the Smiles Covered Card.

Promotional campaign draws from February 15 to April 30

To further enhance customer engagement, the package includes a promotional campaign running from February 15 to April 30, during which customers who transfer their salaries and benefit from the package will be entered into exclusive draws, offering them the chance to win a Tesla and other valuable prizes.

Abou Alwan encouraged those interested in benefiting from the "Zoud" banking privileges to visit www.sib.ae/zoud for more details on terms and conditions.