NBB finances first beneficiary of ‘Tas’heel’ social housing solutions

TDT | Manama                                                             

The Daily Tribune – www.newsofbahrain.com

The National Bank of Bahrain (NBB) announced financing the first beneficiary under the ‘Tas’heel’ finance solutions, enabling them to purchase a residential villa in Deerat AlOyoun, in conjunction with the Ministry of Housing and Urban Planning and Eskan Bank.

‘Tas’heel’ falls under the latest housing finance programmes introduced by the Ministry of Housing and Urban Planning. The Minister of Housing and Urban Planning, Amna bint Ahmed Al Rumaihi, said: “As part of the ministry’s efforts to achieve the vision of His Majesty King Hamad bin Isa Al Khalifa and in line with the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, we are keen to enhance the housing services offered to the community by providing innovative housing solutions in collaboration with the private sector.”

Dr Khalid Abdulla, General Manager of Eskan Bank, commented: “‘Tas’heel’ offers a range of social housing financing solutions that aim to support citizens of Bahrain, and help fulfil their diverse housing requirements.” Chief Executive Officer at NBB, Jean-Christophe Durand, added: “We are proud to be the first Bank in the Kingdom to successfully complete a joint housing loan as part of the newly-launched ‘Tas’heel’ social housing solutions by the Ministry of Housing and Urban Planning.”

Subah Abdullatif Al Zayani, Chief Executive Retail Banking at NBB, added: “With an experienced team that provides informed advisory services, and a smooth application and approval process, we continue to provide the best-in-class financing solutions to our customers.” ‘Tas’heel’ offers three different financing options: Tas’heel Aqari, Tas’heel Al Bait Al Oud and Tas’heel Ta’awon, and will see new features added to the existing ‘Mazaya’ programme, as well as a continued offering of existing housing services.

The programme will increase the minimum amount of financing from BHD19,000 to BHD40,000, while increasing the cap from BHD60,000 to BHD70,000. The age cap for ‘Mazaya’ beneficiaries will also be increased to 40 years of age.