Ithmaar Bank, a leading Islamic retail bank, has signed a memorandum of understanding (MoU) with Al Nasir Contracting to support the development of a Governmental social housing project in the Kingdom of Bahrain.
The MoU was signed by Amr AlShaher, Head of Corporate Banking, Ithmaar Bank, and Ammar Rajab, Managing Director of Al Nasir Contracting, at the Ithmaar Bank’s headquarters in Seef Tower.
Amr AlShaher Head – Corporate Banking Ithmaar Bank
“We are pleased to announce the strategic partnership with Al Nasir Contracting, which has become one of the prominent contracting companies in the Kingdom of Bahrain. This partnership reflects the Bank’s commitment to provide banking solutions and services that meet the requirements of its corporate clients and enhance the Bank’s involvement in government projects. The bank aims to play a pivotal role in ensuring sustainable development of social housing projects and in supporting its corporate clients to develop public real-estate projects that contribute to the growth of this vital sector in Bahrain.”
Amr AlShaher stated that, “Through these partnerships, we strengthen our support for our corporate clients by providing tailored banking solutions that enable them to expand, deliver quality projects, and achieve their business goals.”
Ammar Rajab, Managing Director of Al Nasir Contracting said that, “Ithmaar Bank is one of the pioneering banks in Bahrain, offering exceptional services tailored exclusively to companies and business owners. This cooperation will enable us to continue delivering high-quality developments with the highest construction standards, supporting government initiatives and contributing to the growth of the construction sector in the Kingdom”.
Ithmaar Bank
Ithmaar Bank is a Bahrain-based Islamic bank regulated by the Central Bank of Bahrain. A wholly-owned subsidiary of Ithmaar Holding, listed on the Bahrain Bourse and Dubai Financial Market, the bank offers a range of Sharia-compliant financing and investment solutions for institutions.
