Manama, Bahrain 23 Jan 2012: Sakana Holistic Housing Solutions, the Islamic mortgage finance provider announced first of its kind "Referral Rewards Program" for its valued customers either in current or past relationship. The reward will be given to valued customers based on referral of their family members and friends to finance their dream home with Sakana.
A fixed percentage will be rewarded in cash based on the referee's mortgage finance amount - higher the mortgage finance, higher the reward. Furthermore, there is no limit on number of referrals and the reward percentage increases for multiple referrals. For example, referral of BD 100,000 mortgage would result in BD 150 reward for the 1st time referral, BD 200 for the 2nd time referral and so on. Terms and conditions will apply to the referral rewards program.
Mr. R. Lakshmanan, CEO, Sakana said: "Sakana's valued customers are partners in our success for the last 5 years and through this referral rewards program we wish to recognize their valuable contribution. We have adopted an inclusive approach of making this available to all our customers either in current or past relationship."
The referral rewards program follows recent announcement of loyalty reward of 0.25% mortgage rate reduction to valued customers to commemorate Sakana's completion of 5 successful years.
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About Sakana Holistic Housing Solutions BSC (c)
Sakana Holistic Housing Solutions commenced operations in December 2006 as a dedicated mortgage finance provider in Bahrain, offering a comprehensive range of Sharia'a-compliant mortgage products. Sakana's holistic approach is paving the way for significant change in the Kingdom's mortgage market by making Islamic finance easier to understand and acceptable, as well as making it available to an ever-wider group of customers. The company demonstrated significant growth since inception and has broadened its holistic focus by adding property consulting and property development to its portfolio. Sakana is a finance company with paid up capital of BD 20 Million, regulated by the Central Bank of Bahrain. Sakana started as a 50:50 joint venture between BBK and Shamil Bank. In early 2010, Capinnova Investment Bank, the Sharia'a-compliant investment banking arm and fully owned subsidiary of BBK acquired 50% stake in Sakana from BBK. Further, Shamil Bank was merged with its parent Ithmaar Bank during the year 2010 and accordingly Ithmaar Bank became a 50% stakeholder.
Sakana is a member of the Waqf Fund for Research, Education and Training in Islamic Finance and a member of Bahrain Property Development Association (BaPDA).
For more information is available at www.sakanaonline.com
Note to Editors
This note is intended as a guide only, for journalists regarding the significance of the different terminology for an Islamic lender.
Sakana Holistic Housing Solutions is an Islamic financial institution. As such, please consider using the following suggested preferred terminology:
Usual terminology | Preferred terminology |
Loan | Finance |
Lender / Lending / Lend | Financier/Financing/Finance |
Credit facility | Funding facility |
Interest | Profit |
Issued by Sakana
For press information contact:
Mrs. Haya Khalil
Sakana Holistic Housing Solutions BSC (c)
Tel: +973 17 20 19 37
Fax: +973 17 21 46 63
E-mail haya@sakanaonline.com
© Press Release 2012
