Bahrain’s leading commercial and Islamic investment banking entity, Kuwait Finance House-Bahrain (KFH-Bahrain) has signed an agreement with the region’s leading government bank Eskan Bank to offer financing solutions for eligible Bahraini citizens as part of the new housing financing schemes, Tas’heel and the additional new Mazaya.
The new housing program comprises a line-up of advantages for customers, including an increase in the financing cap from $158,145 (BD60,000) to $184,503 (BD70,000).
In addition to this, there is an increase from the minimum of $50,398 (BD19,000) to 106,102 (BD40,000) along with other numerous benefits which also include the option of increasing the percentage of monthly deduction to 35 percent for monthly incomes ranging between $848 (BD320) and $3,183 (BD1,200).
“Eskan Bank is moving towards implementing a strategic plan that seeks to provide solutions and opportunities that will accelerate and facilitate citizens’ access to suitable financing and achieve their housing ambitions. Tas’heel and additional new Mazaya schemes are in line with the Ministry of Housing and Urban Planning and Eskan Bank’s directives to partner with the private sector including banks, real estate developers, and more. Eskan looked forward to conducting future partnerships with them with more opportunities contributing towards addressing housing issues and meeting the needs of citizens.”
KFH-Bahrain Managing Director and CEO Mr. Abdulhakeem Alkhayyat said that, “We remain committed to supporting the Ministry of Housing and Urban Planning and Eskan Bank in reducing the Kingdom’s housing waiting lists, as part of the Economic Vision 2030. This partnership reflects our ongoing strides to meet the needs of our dear customers and our efforts to provide banking products that aim to meet the current market trends.”
“This initiative will also help customers overcome their financial obstacles, enabling them to own their desired residential property. Therefore, we encourage everyone to apply and make use of these new innovative financing schemes,” commented Mr. Hamed Mashal, Head of Retail Banking at KFH-Bahrain.