Eskan Bank signs deal worth BD250 million to support housing programmes, services

TDT | Manama

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Eskan Bank yesterday formed a strategic alliance with the National Bank of Bahrain (NBB), Bahrain Islamic Bank (BisB), and the Kuwaiti Boubyan Bank Group.

This partnership aims to provide joint financing of 250 million Bahraini dinars to support and expand suitable housing programs and options for Bahraini citizens.

The initiative aligns with the unwavering efforts of the Ministry of Housing and Urban Planning to implement effective housing policies in line with the Government's wise vision of providing affordable housing in the Kingdom.

The agreement was signed by Amna bint Ahmed Al-Rumaihi, Minister of Housing and Urban Planning and Chairperson of the Board of Directors of Eskan Bank, Hala Yateem, Chairperson of National Bank of Bahrain (NBB), Zaid Khalid Abdulrahman, Chairman of Bahrain Islamic Bank (BisB), and 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.

Amna bint Ahmad Al-Rumaihi, Minister of Housing and Urban Planning and Chairperson of the Board of Directors of Eskan Bank, stated that the signing of the joint financing agreement worth 250 million dinars comes within the framework of the active and ongoing partnership with the private sector to support efforts to provide flexible housing options and solutions for the largest possible number of citizens.

Usman Ahmed, Group CEO of National Bank of Bahrain, commented: “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.”

Abdullah Talib, General Manager of Eskan Bank stated that this agreement represents a valuable extension to the ongoing efforts aimed to provide citizens with affordable housing solutions.

Fatema Al Alawi, Acting Chief Executive Officer of Bahrain Islamic Bank (BisB), added: 'We are honored with this partnership, which reflects BisB's commitment to supporting community-focused projects.'"

Mr. Adel Al-Majed, Boubyan Bank's Vice-Chairman & Group Chief Executive Officer, stated: "This, in fact, reflects Boubyan Bank's commitment to supporting sustainable projects in Kuwait and the region."