Al Baraka Islamic Bank (AIB), a leading financial institution in Bahrain, has announced a first-of-its-kind financing offer in the kingdom, in partnership with Bahrain's Ministry of Housing and Eskan Bank.
Under this package, Al Baraka Islamic will provide funding to its customers for the purchase of housing plots, while the finance for the construction work will come from the ministry and Eskan Bank.
The partnership between AIB and Ministry of Housing /Eskan Bank will enable valued customers to benefit from this programme to obtain financing for ‘leasing ending with ownership.’
Through this scheme, AIB's customers are getting a golden opportunity to purchase the land and construct their homes, it stated.
On the novel offer, Tariq Mahmood Kazim, General Manager (Business Group) said: "Al Baraka Islamic Bank is extremely pleased with the partnership with housing ministry and Eskan and the special package that will provide beneficiaries the unique opportunity to not only purchase residential lands but also build their homes."
"This offer comes in line with our efforts to provide diversified real estate financing solutions that meet the needs and aspiration of the public. We are confident that such solutions will win the satisfaction and admiration of our valued customers," stated Kazim.
"Moreover, we are proud of our fruitful relationship with Ministry of Housing/Eskan Bank and look forward to working with them closely to achieve the housing development goals as outlined in the Economic Vision 2030," he added.-TradeArabia News Service