Al Salam Bank inks MoU with Kingdom Properties

Manama : Al Salam Bank-Bahrain has signed a Memorandum of Understanding (MoU) with the Kingdom Projects to facilitate property financing solutions for customers wishing to buy luxurious villas in the Janayin Al Hamala project. The project also includes residential villas that fits the criteria of Mazaya programme (formerly known as Social Housing Financing Program) from the Ministry of Housing.

The project comprises of 148 luxurious villas ready to deliver that are designed to meet the requirements of a modern Bahraini family and it offers customers with 5 different types of villas, ranging to 220m² that consists of 4 bedrooms, 3 bathrooms, large majlis room, living room, kitchen, balconies, store, housekeeping room and 2 parking spaces.

Present at the signing ceremony held at the bank’s headquarter office in the Bahrain World Trade Center were: Anwar Murad, First Deputy CEO of Al Salam Bank-Bahrain and Kingdom Projects and senior officials at the bank.

Speaking at the signing ceremony, Anwar Murad, First Deputy CEO of Al Salam Bank-Bahrain said: “The partnership between the two institutions will enable to provide financing to all Mazaya beneficiaries, which includes competitive profit rates, flexible financing terms, without a down payment on the amount subsidized by the Government of Bahrain and they can also benefit from obtaining a top-up of the financing amount on their subsidized financing facilities. In addition, customers who are not eligible for Mazaya program and who wish to purchase a villa in the Janayin Al Hamala project can also avail our Shari’a-compliant financing solutions.