Al Sakhir: Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has signed two significant Memorandums of Understanding (MoU) with Diyar Al Muharraq at Cityscape 2024. The agreements are set to enhance homeownership opportunities for customers seeking to invest in Al Naseem Project, one of Diyar’s premier residential developments.
“We are pleased to benefit from this important real estate event through our collaboration with one of the leading real estate developers in the Kingdom, Diyar Al Muharraq. This collaboration enhances our commitment to providing exceptional financial solutions to our customers, aiming to meet their diverse needs. Through this collaboration, we look forward to offering Bahrainis flexible financing options that support their efforts to own properties in leading real estate projects such as Al Naseem,” Fatema AlAlawi, Acting Chief Executive Officer at BisB, said.
“At Diyar Al Muharraq, we view this collaboration with Bahrain Islamic Bank (BisB) as a significant milestone in our mission to provide distinguished housing opportunities for Bahraini families. This partnership enables us to offer flexible and innovative financing solutions that cater to the needs of the local market and support citizens in achieving their dream homes. Through the development of high-quality residential projects like Al Naseem, we are proud to contribute to the Kingdom of Bahrain’s growth and prosperity. We look forward to this collaboration marking a new chapter of success in the housing sector,” Eng. Ahmed Al Ammadi, CEO of Diyar Al Muharraq, said.
The first MoU focuses on supporting clients purchasing ready units within Al Naseem Project Phase 2 by offering them financing options without payments of the monthly installments for a period between 6 to 18 months Additionally, BisB will process these applications without requiring a down payment, ensuring smooth access to financing. The second MoU is devised to serve customers purchasing in under-construction units in Al Naseem Project Phase 3. Both agreements highlight BisB’s focus on providing unique and customer-centric Sharia’a compliant financing solutions.
Eligibility for these financing opportunities is extended to Bahraini customers who are employed and have salaries transferred to their BisB accounts. Applications can be made conveniently through BisB’s round-the-clock services.
BisB’s collaboration with Diyar Al Muharraq aligns with the Bank’s overarching strategy to enhance access to its offerings for Bahrainis. By simplifying the home financing process and eliminating traditional barriers, the Bank is ensuring that more families can achieve their dreams of homeownership.
