Manama, Kingdom of Bahrain: Esterad Bank, a Bahrain-based wholesale Islamic bank regulated by the Central Bank of Bahrain, is pleased to announce the successful and early exit of the Amwaj Mezzanine Programme (AMP), the first private credit opportunity launched by the Bank following its acquisition by Esterad Investment Company. The programme delivered the returns promised to investors ahead of schedule, underscoring the strength of the Bank’s renewed strategy, enhanced execution capabilities, and growing presence in the private credit space.

Launched in December 2023, the Amwaj Mezzanine Programme was uniquely structured to provide secured and attractive investment yields to participating investors, offering 10% per annum cash-on-cash returns for up to two years, in addition to 2% per annum Profit in Kind (PIK) payable upon maturity.

The underlying asset of the Programme, the Amwaj Beachfront Project, is a major real estate development located in Amwaj Islands, a group of man-made islands in the northeast of the Kingdom of Bahrain. The early exit further highlights Esterad Bank’s ability to structure and deliver private credit solutions supported by strong collateral and rigorous governance frameworks.

Commenting on the transaction, Mr. Bashar Al Mutawa, Chairman of the Board of Esterad Bank, said: “This achievement reflects the strength of Esterad Bank’s transformation journey. The early and successful exit of the Amwaj Mezzanine Programme is a clear testament to the effectiveness of our value-driven and well-structured investment approach. From the outset, our objective was to create a private credit opportunity that combines attractive returns with strong security, and we are pleased to have fully met our commitments to investors ahead of schedule. This achievement reflects Esterad Bank’s unwavering commitment to delivering sustainable value and offering innovative financial solutions anchored in robust governance and disciplined execution.”

For his part, Mr. Ahmed Abdulrahman, Acting Chief Executive Officer of Esterad Bank, stated:

“Since Esterad Investment Company’s acquisition of the Bank, our priority has been to build a more agile and performance-driven operating model capable of delivering high-quality alternative investment solutions. The Amwaj Mezzanine Programme serve as an important milestone within our new strategy, and its successful early exit demonstrates that our efforts are yielding tangible results. We have strengthened our structuring capabilities, enhanced our risk management practices, and rebuilt investor confidence through measurable outcomes. We will continue expanding our private credit offerings and bringing forward compelling opportunities that contribute to long-term value creation for our investors and shareholders.”

The successful performance and early exit of the Amwaj Mezzanine Programme marks an important milestone in Esterad Bank’s strategic transformation toward offering differentiated private credit and alternative investment opportunities supported by disciplined risk management, strong collateral structures, and long-term value creation.

About Esterad Bank

Esterad Bank is a Bahrain-based wholesale Islamic bank regulated by the Central Bank of Bahrain. Established in 2005 and restructured following its acquisition by Esterad Investment Company in 2022, the Bank today operates as a specialised alternative-asset manager with a strong focus on income-generating real estate and selective private equity opportunities. Its investment footprint spans the GCC, MENA, Turkey, the United States and the United Kingdom across resilient sectors such as senior living, logistics, healthcare, agriculture and food. Guided by rigorous due diligence, disciplined risk management and full Shari’ah compliance, Esterad Bank is committed to delivering sustainable, long-term value for its clients and shareholders.

Media Contacts
For more information, please contact:
Yousif Amin
Senior Associate – Corporate Communications
Tel: +973 17518873
Email: YAmin@esterad-bank.com 
Website: www.esterad-bank.com