Kuwait Finance House – Bahrain (KFH-Bahrain) said it has signed an agreement with the kingdom's 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 programme includes a line-up of advantages that customers can benefit from which include: an increase in the financing cap from BD60,000 ($158,145) to BD70,000 ($184,503).

In addition to this, there is an increase from the minimum of BD19,000 to BD40,000 along with other numerous benefits which also includes the option of increasing the percentage of monthly deduction to 35% for monthly incomes ranging between BD320 and BD1,200.

The agreement was signed at Eskan Bank’s headquarters in the presence of Dr Khalid Abdulla, General Manager of Eskan Bank, Hamed Mashal, Head of Retail Banking at KFH - Bahrain, in addition to officials from both entities.

Commenting on the occasion, Dr Abdulla said: "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.

Lauding KFH – Bahrain for their swift response in undertaking the initiative, Dr Abdulla said 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 Abdulhakeem Alkhayyat said: "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."

"As such, we are pleased to partner with them on the new Tas’heel and the additional new Mazaya financing schemes. 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," he stated.

Hamed Mashal, Head of Retail Banking at KFH-Bahrain, said: "We are delighted to extend our strategic partnership with the Ministry of Housing and Urban Planning and Eskan Bank with this latest initiative that aims to enable eligible citizens to benefit from the new housing financing schemes, Tas’heel and additional new Mazaya."

"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," he added.

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