NBB Introduces a new construction finance scheme in conjunction with Eskan Bank

Bank's customers offered mortgage finance solutions to purchase land and build their dream homes through Eskan Bank's social housing finance solutions

NBB Introduces a new construction finance scheme in conjunction with Eskan Bank

Manama, Bahrain: In line with the National Bank of Bahrain’s (NBB) continuous efforts to provide optimal housing financing solutions for Bahraini citizens across the Kingdom, the Bank is introducing a new joint housing finance construction scheme, in collaboration with Eskan Bank, to facilitate the purchase of land and the subsequent construction of homes across the Kingdom.

The new scheme comes months after the launch of the joint housing purchase scheme which solidifies NBB’s growing partnership with the Ministry of Housing and Eskan Bank. NBB customers will be able to purchase land through an NBB mortgage finance and subsequently build it through a social housing financing plan provided by Eskan Bank. This new housing solution provided by both banks, is an added feature to the existing Joint Housing programme designed to provide facilitated housing solutions to Bahraini customers looking to build their dream homes.

Commenting on the announcement of the new scheme, Chief Executive of Retail Banking at NBB, Subah Abdullatif Al-Zayani, said: “We are delighted to continue this endeavor in conjunction with the Ministry of Housing and Eskan Bank. Through this partnership, we aim to provide a wider range of opportunities to Bahraini beneficiaries looking for complementing housing financing solutions at NBB. This is also part of our initiative to provide the citizens of Bahrain with flexible housing solutions, allowing them to begin construction on their dream homes anywhere across the Kingdom.” He added: “We hope to release a number of similar initiatives and solutions in the future, to provide all our customers with a diverse range of services to build a brighter future for them as new homeowners.”

Mr. Ahmed Tayara, Executive Director of Banking and Deputy General Manager, said: “The initiative to provide mortgage financing from the National Bank of Bahrain represents a great addition to the bank’s efforts, giving its beneficiaries of financing services greater purchasing power to complete the process of building their dream homes.”

He added: "This step reflects the scale of cooperation between Eskan Bank and the National Bank of Bahrain, and the importance of continuing our extended cooperation with private banks to provide all possible requirements and achieve more successes in serving the Bahraini citizen."

The initiative will extend housing solutions to all of NBB’s customers who wish to purchase land and construct their new homes.

In line with NBB’s brand promise of being closer to its customers, the offering will make it more accessible for future homeowners to select the housing solution they want with ease and comfort. As it continues its partnership with Eskan Bank, NBB aims to provide additional products to drive positive societal initiatives within the Kingdom to support Bahrain’s overall economy in line with the Kingdom’s Vision 2030.

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