Bahrain’s leading commercial and Islamic investment banking entity, Kuwait Finance House–Bahrain (KFH-Bahrain) has signed a Memorandum of Understanding (MoU) with the region’s leading private university Applied Science University (ASU) in order to provide education financing to support the students.
Under the MoU, the financing support will be provided to both current students and those who wish to enroll at the university in the near future.
KFH-Bahrain’s Education Financing Program aims to facilitate and support students to pursue their academic education at prestigious universities and higher education institutions in Bahrain and abroad.
The Shari’a-compliant financing program comes with an exclusive 2-year profit-accruing grace period and includes financing of up to $79,256 (BD 30,000) at low rates, according to the statement.
Commenting on the occasion, Dr. Mohammed Youssif, VP for Administration, Finance, and Community Engagement at the Applied Science University said that, “This partnership with Kuwait Finance House-Bahrain will contribute to facilitating students’ enrollment in the academic programs of the university, as it will push them forward on their educational journey, which will contribute to their development and career growth afterwards.”
Mr. Abdulrahman AlKhan, Head of Cards & E-Channels at KFH-Bahrain stated that, “We continue our efforts to cater to market needs and exceed our customers’ expectations by providing them with a superior banking experience.”
“Our partnership with the Applied Science University aims to support students to complete their academic education through their enrollment in one of the prestigious universities in the Kingdom. This step comes in line with our efforts to support the education sector and contribute to the development of future leaders,” Mr. AlKhan further added.