Al Baraka Islamic Bank praises HRH’s directive on Housing Services

TDT | Manama

Email: mail@newsofbahrain.com

Al Baraka Islamic Bank has praised the directive of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to provide 6,900 new housing services, describing it as a transformative step toward improving the quality of life for Bahraini citizens. The initiative will also expand the Mazaya housing program, which has benefited over 13,000 Bahrainis since its inception.

Visionary Leadership

Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, described the Mazaya program as a reflection of His Majesty King Hamad bin Isa Al Khalifa’s visionary leadership and HRH Prince Salman bin Hamad Al Khalifa’s strategic focus on enhancing social stability. “Mazaya is a pioneering initiative that underscores Bahrain’s commitment to ensuring every citizen has access to adequate housing,” he said.

Supporting Families

Al Baraka Islamic Bank, a leading Islamic retail bank licensed by the Central Bank of Bahrain, has been a steadfast supporter of the Mazaya program since its inception. The bank is a subsidiary of Al Baraka Group, a prominent international Islamic financial group operating across 13 countries with more than 600 branches.

Known for strictly adhering to Islamic Shari’a principles, the group provides retail, corporate, treasury, and investment banking services.

Innovative Solutions

Dr. Salem highlighted the bank’s role in developing innovative financing solutions tailored to the needs of Bahraini families, reflecting its commitment to social responsibility and sustainable development. “We continuously work to support citizens in achieving their dream of homeownership through tailored financial solutions,” he said. The CEO also underscored the bank’s fruitful partnership with the Ministry of Housing and Urban Planning and the Housing Bank, which has driven the program’s success.

New Offers

Al Baraka Islamic Bank said it plans to introduce new offers under the Mazaya program, ensuring financing is accessible and tailored to citizens’ income levels and aspirations. “We are ready to finance all eligible applicants with packages designed to suit their needs. By streamlining procedures, we aim to make homeownership a swift and seamless process,” Dr. Salem stated.

National Commitment

The CEO expressed pride in the bank’s contribution to the Mazaya programme, calling it a cornerstone of the nation’s efforts to build a prosperous society. “Our role is not just about financing homes; it’s about empowering families to secure a stable and brighter future,” he added. Detailed information on various housing finance options is available at the bank’s website as well as through its customer service helpline, officials said.