Bahrain's NBB and Eskan Bank sign key housing finance agreement

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MANAMA: Eskan Bank signed a partnership agreement with the National Bank of Bahrain (NBB) to provide housing loans for Mazaya scheme beneficiaries.

The signing ceremony was attended by Housing Minister and Eskan Bank chairman Bassem Al Hamer, who expressed his pleasure at this significant collaboration between the two entities.

“The Mazaya scheme is being executed in line with the vision of Bahrain’s leadership in providing more housing solutions for citizens; we are extremely happy to have NBB as one of our key partners in realising this vision and commend them for their instrumental role in supporting national programmes.”

The agreement was signed by Eskan Bank general manager Dr Khalid Abdulla and NBB chief executive Jean-Christophe Durand.

“Mazaya scheme was designed in line with the Housing Ministry’s vision to create a support mechanism through participating banks and financial institutions in the private sector. Eskan Bank is seeking to develop this ambitious programme by increasing the number of participating real estate developers and financial institutions in order to meet the demand for housing and contribute towards sustainability in the housing sector,” said Dr Khalid.

Commenting, Mr Durand said, “At NBB, we have a deep sense of responsibility in supporting national initiatives that further promote a sustainable nation. Through our partnership with Eskan Bank we want to facilitate access to housing solutions and NBB is committed to supporting key national projects in line with the directives of the leadership.”

NBB head of retail banking Subah Al Zayani said, “We are always looking for new ways to meet the needs of our customers through our unique portfolio of financing services and solutions complemented by competitive rates and flexible terms. NBB’s Mazaya scheme features a flexible repayment period of up to 25 years.”

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