May 10 2009 |
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Reef Venture Holding & BISB Signs Co-operation Agreement to provide finance facilities to purchasers in "Difaaf"
Reef Venture Holding and Bahrain Islamic Bank (BISB) have signed a co-operation agreement through which BISB will offer an investment or housing real estate financing in the purchase of units in Difaaf project in Reef Island. The co-operate agreement was signed by Reef Venture Holding Board Member, Mr. Saleh Bagaeen, and BISB Retail Banking Services General Manager, Mr. Abdulrahman Mohamed Turki, at Venture Capital Bank premises in the Diplomatic Area - Manama, in presence of several managers of both sides.
The agreement aims at providing real estate financing services for purchase of units in Difaaf project for clients whether citizens, residents or foreigners wishing to purchase apartments by installments up to 25 years with interest rate up to 8.5%.
Difaaf is a luxury residential project composed of 2 sea-front towers worth US$200 million. The project is built on a plot measuring 16,000 square meters with a strategic location within Reef Island in heart of the Capital, Manama.
BISB Retail Banking Services General Manager, Mr. Abdulrahman Mohamed Turki expressed delight with the agreement. "We, in the Bahrain Islamic Bank, are happy with being a strategic partner through this agreement which will bring good benefits to our valued clients in the first place, and then to both sides", Mr. Turki said. "With God's Help, BISB has managed to win the trust of many leading institutions, whether private or public, due to our unique banking services & products which cater to the needs of our valued clients", he added.
-Ends-
For further inquiries, please contact:
May Marzooq
Corporate Communications & Marketing
Tel: +973 17 518 872
Fax: +973 17 518 880
Email: marzooq@vc-bank.com
Fatima Rashid
Corporate Communications & Marketing
Tel: +973 17 518 859
Fax: +973 17 518 880
Email: frashid@vc-bank.com
© Press Release 2009
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