Manama, Kingdom of Bahrain: Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in the Kingdom of Bahrain, recently announced the launch of its exceptional edition of the Social Housing Scheme ‘Mazaya’, introducing a special offer to finance beneficiaries of the program up to BD 120,000 with a 0% down payment.

This comes as part of the Bank’s commitment to provide accessible financing solutions that contribute to giving citizens who benefit from this scheme an opportunity to purchase housing units that meet their aspirations without the need to save for a down payment, which often constitutes an obstacle to obtaining the necessary financing to achieve this.

Through this offer, KHCB seeks to further consolidate its partnership with the public sector represented by the Ministry of Housing, through finding quick and accessible financing solutions for citizens to finance the purchase of their housing units, in consistency with the needs of Bahraini Families and meeting the aspirations of a wide segment of the Bank's clients.

In this context, KHCB’s Executive Director – Retail Banking Mr. Abdulnasser Ahmed Al Rayes said “Through its strategic partnership with the Ministry of Housing and Eskan Bank, KHCB believes in the significance of introducing innovative financing solutions to citizens, in order to enable them to purchase housing units that meet their aspirations and contribute to making the dreams of many Bahraini Families a reality.”

Mr. Al Rayes also adds: “Thanks to its rich base of strategic partners, KHCB has been able to efficiently contribute to the innovation of the best financing options in the Real Estate Sector, with the aim of meeting the requirements of our valuable clients. This has been achievable by introducing flexible financing mechanisms with competitive profit rates that are compliant with the Islamic Shari’a Principles. We look forward to serve a bigger segment of Mazaya’s Beneficiaries.”

Concluding his statement, Mr. Al Rayes reaffirmed the Bank’s commitment to support national initiatives that aim to improve citizens’ livelihoods and achieve their aspirations, by contributing to solving the housing matter through this special financing program.

It is noteworthy that KHCB was one of the first banks to partake in the ‘Mazaya’ Housing Scheme to be among the approved institutions funding this program, which was launched by the respected Government of the Kingdom of Bahrain, represented by the Ministry of Housing in late 2013.

© Press Release 2020

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