Bahrain KHCB completes funding for 1st batch recipients of ‘Mazaya’ Project

By Salma C, Intern Reporter
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Khaleeji Commercial Bank
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One of the leading Islamic banks in the Kingdom of Bahrain, Khaleeji Commercial Bank (KHCB) has completed the procedures for financing for the first batch of beneficiaries of ‘Mazaya’, a social housing program that enables the citizens to acquire residential units in the ‘Deerat Al Oyoun’ project in Diyar Al Muharraq.

The announcement was made at a special ceremony held by the Bank at its latest branch in Wadi Al Sail Mall in the presence of a representative of Eskan Bank and a private notary, who facilitated the process of contract signing and notarization with established procedures.

KHCB had earlier introduced its extraordinary offer to acquire units for citizens who meet the beneficiary criteria of the “Mazaya” program under the ‘Deerat Al Oyoun’ project, which includes immediate approval to receive funding up to 120 percent of the property value, with a competitive profit margin and down payment period up to 30 years with no down payment or administrative fee or evaluation fee.

In addition to providing free fire insurance and including the first 100 clients in raffles for valuable prizes, the offer also covers a private notary fee for easy completion of transactions.

On this occasion, KHCB’s Head of Retail Banking Mr. Abdulnasser Al Rayes commented that “I would like to take this opportunity to congratulate our valued clients who have completed their procedures for receiving social housing finance from the Bank towards owning their dream home in the “Deerat Al Oyoun” project. The presence of the private notary and the Eskan Bank representative has certainly ensured the completion of these procedures in a seamless and swift manner. I would also like to express my gratitude and appreciation to the Ministry of Housing and Eskan Bank for their continuous cooperation with us, which contributed to facilitating the procedures for citizens to receive their social housing finance with Khaleeji Commercial Bank.”

KHCB Retail Banking Head further added that “I would like to invite all citizens who meet the “Mazaya” program’s criteria to benefit from our exceptional offer for the “Deerat Al Oyoun” project. This offer is designed to provide swift transactions processing, in addition to other benefits that come as part of our commitment to all our clients to provide them with banking services that meet their expectations.

“KHCB employees across all branches are fully prepared to receive our valued clients and work to complete all the necessary procedures, including obtaining immediate approval, on condition that all required documents are provided and that the Bank’s terms and conditions apply to their application,” Mr. Al Rayes added.

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