An agreement has been signed between Eskan Bank General Manager and Danat Al Lawzi CEO Dr Khaled Abdulla and Kuwait Finance House (Bahrain) Executive Manager and Head of the Retail Banking Group Mr Khaled Maarafi, reports the Bahraini Al Watan newspaper website.
The agreement states that the Kuwait Finance House (Bahrain) is to finance benefiters of the Mazaya social housing financing programme, launched by the Ministry of Housing, and those interested to own units in the Danat Al Lawzi project according to their requirements and financial abilities.
According to Dr Khaled Abdulla, the Kuwait Finance House is the first commercial bank to sign a similar agreement to finance the Mazaya programme. He added that ‘this programme has been designed to match the plans as well as the support of the Ministry of Housing and the bank to include the private sector. This will provide meaningful chances for its institutes to participate in the housing condition which positively reflects on the housing situation, on the one side, as well as motivate these institutions and reflect on the economic activities coping with the housing development in general.’
‘There is successful cooperation between Eskan Bank, through the Mazaya housing programme; and our endeavours to answer the needs of our clients, who will benefit from the governmental housing initiatives, work in accordance with our social responsibility towards our home country,’ said Mr Khaled Maarefi. ‘Therefore, we would like to invite those eligible for the Mazaya social housing programme to make use of the flexible financing solutions which the Kuwait Finance House (Bahrain) provides to make their dreams of owning a house come true.’
In order to be eligible for the Mazaya financing scheme, all documents of the buyer should be provided and the legal requirements met as well as have enough income to cover the amount financed.