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Manama, Bahrain: Al Baraka Islamic Bank (AIB), has signed an agreement with University College of Bahrain to provide education financing for students who wish to enroll at the university.
The ceremony which was held between both entities at Al Baraka’s headquarters, was attended by Mr. Tariq Kazim General Manager – Business Group of Al Baraka Islamic Bank, and Shaikh Dr. Khalid bin Mohammed Al Khalifa, UCB’s Founder and Executive Chairman, along with senior officials from both parties including Ms. Fatema AlAlawi, Head of Retail Banking and Mr. Mohamed Jamali, Section Head product development at Al Baraka Bank, and Dr Rasha Samir, UCB’s Acting President, in addition to other staff members.
Through the newly introduced education financing scheme, the bank aims to encourage promising students to achieve a higher education degree in order to advance in their future careers through local institutions that are fully-equipped to prepare the future generation with the necessary skills required to enter the job market. The education financing scheme offers low profit rates over a maximum tenor of 3 years to those wishing to attain a higher education degree at local institutions.
Commenting on this occasion, Mr. Tariq Mahmood Kazim, General Manager – Business Group of Al Baraka Islamic Bank said: “We are pleased to be partnering with University College of Bahrain as the second university on board with our newly launched education financing scheme. We are proud to be the first in the market to offer such schemes which helps prospective students in achieving their educational goals. This scheme goes in line with our continuous efforts in providing students with easy access to attaining a higher education degree from top local institutions, which will create a future generation that is capable of entering the labour market successfully upon graduation. We look forward to partnering with more universities in the Kingdom of Bahrain.”
During the event, Shaikh Dr. Khalid bin Mohamed Al Khalifa expressed his delight about this initiative and said: “We are proud to partner with Al Baraka Islamic Bank on their newly launched Shari’a compliant education financing scheme, and would like to laud their efforts in providing students within the Kingdom with the resources required to excel in their future careers, as this scheme acts as a great investment in the future generation of the Kingdom.”
“At University College Bahrain we provide students with a wide range of courses from different specializations, as we include the most recent practices within each field ensuring that graduates will obtain professional knowledge and the required skills to be the leaders in their future professions,” he added.
Worth to mention, The University College of Bahrain (UCB) established in 2002, a non-profit private institution of Higher Education, licensed by the Ministry of Education of the Kingdom of Bahrain. UCB offers wide range of specializations in its undergraduate and MBA programs.
For any further information, kindly visit our website at www.albaraka.bh.
© Press Release 2021
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