Bank of Bahrain and Kuwait offering loans to buy solar panels

The loan comes with special benefits including fast approvals, waived bank fees, competitive interest rates

  
Engineer working on checking equipment in solar power plant. Image used for illustrative purpose.

Engineer working on checking equipment in solar power plant. Image used for illustrative purpose.

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MANAMA: BBK is offering loans to businesses and home owners for purchase of solar panels from accredited Bahraini suppliers.

The bank announced yesterday that the initiative is in line with a social responsibility focus on the environment and its commitment to support the UN sustainable development goals.

It is also in support of national efforts to enhance energy efficiency and increase the shift to renewable energy sources.

The solar panel loan comes with special benefits including fast approvals, waived bank fees, competitive interest rates, flexible repayment terms and a repayment period of up to seven years.

Commenting on the launch, BBK Group chief executive Dr AbdulRahman Saif said, “The solar panel loan is derived from the bank’s sustainability framework under which the preservation of the environment constitutes one of its main pillars alongside social responsibility and governance.

“This new loan is one of the bank’s many initiatives to support environmental issues in the kingdom, thus contributing to achieving a balance between the requirements of the country’s urban development on one hand, and the protection and preservation of the environment for future generations on the other hand.”

The official further said that the loan is designed to suit the needs of various customers.

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