Eskan Bank, Bahrain’s leading financial institution, has partnered with the National Bank of Bahrain (NBB), Bahrain Islamic Bank (BisB), and the Kuwaiti Boubyan Bank Group.
The partnership seeks to provide joint financing of 250 million Bahraini dinars ($662.5 million) to enhance housing programs and options for the citizens of Bahrain. This initiative aligns with the ongoing efforts of Bahrain Ministry of Housing and Urban Planning to implement housing policies in line with the Government’s vision.
The agreement was signed by Her Excellency Mrs. Amna bint Ahmed Al-Rumaihi, Minister of Housing and Urban Planning and Chairperson of the Board of Directors of Eskan Bank, Mrs. Hala Yateem, Chairperson of National Bank of Bahrain (NBB), Mr. Zaid Khalid Abdulrahman, Chairman of Bahrain Islamic Bank (BisB), and Mr. Adel Al-Majed, Vice Chairman of the Board and Chief Executive Officer of Boubyan Bank Group; in the presence of a number of officials from both the public and private sectors.
Her Excellency Mrs. Amna bint Ahmad Al-Rumaihi stated that the joint financing agreement comes as part of the ongoing partnership with the private sector, aimed at supporting the efforts to provide flexible housing options and solutions for the largest possible number of citizens.
The housing finance program has witnessed a significant growth in demand among Bahraini citizens, as well as other programs and projects. Amna bint Ahmad also highlighted that this initiative has the common goal of supporting the Kingdom’s housing sector. This will enhance the national economy and positively impact various sectors, including banking, services, and real estate sectors, catering to the needs of citizens.
Mr. Usman Ahmed Group CEO – National Bank of Bahrain
“NBB is proud to support this vital initiative that will improve housing access and contribute to the social and economic development of Bahrain. This partnership strengthens our commitment to sustainable development and national objectives and will enable Eskan Bank to meet growing housing demands and further enhance financial potential to support the Kingdom’s housing projects.”
Mr. Abdullah Talib, General Manager of Eskan Bank stated that this agreement expands the ongoing efforts to provide citizens with affordable housing solutions. Fatema Al Alawi, Acting Chief Executive Officer of Bahrain Islamic Bank (BisB), emphasized BisB’s commitment to supporting community-focused projects, and the role of this partnership in achieving the Kingdom’s sustainable development goals.
Mr. Adel Al-Majed, Boubyan Bank’s Vice-Chairman and Group Chief Executive Officer, stated that, “We take pride in our participation in this strategic collaboration, which will have a significant impact on the housing sector in Bahrain. Boubyan is keen to participate in such initiatives through innovative, diverse, flexible, and efficient financing solutions as we have a good understanding of the role of the banking sector and the importance of its contributions to developmental and infrastructure projects. This, in fact, reflects Boubyan Bank’s commitment to supporting sustainable projects in Kuwait and the region.”
