Al Baraka Islamic Bank announces land, construction property financing offers

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Al Baraka Islamic Bank (AIB), one of the leading Bahraini financial institutions in Islamic banking, announced the first-of-its-kind financing offer in the Kingdom, in which the Bank’s customers have the opportunity to benefit from property financing to purchase the land and construct their homes.

The unique offer comes as part of cooperation with the Ministry of Housing and Eskan Bank. The partnership between AIB, Ministry of Housing and Eskan Bank will enable customers to benefit from this programme to obtain financing for ‘leasing ending with ownership’, where AIB will provide the financing to purchase the land, while the Ministry of Housing and Eskan Bank will finance the construction. Commenting, Tariq Mahmood Kazim, General Manager – Business Group of Al Baraka Islamic Bank said, “We are extremely pleased with our partnership with Ministry of Housing and Eskan Bank, and to present unprecedented financing offers in the Kingdom of Bahrain, which will be of great value to our customers.

This offer will provide beneficiaries with the unique opportunity to not only purchase residential lands but to also build their home.”