The Housing Bank announced the signing of a joint financing agreement worth 250 million Bahraini dinars, in cooperation with a number of national, regional and international banks and commercial banks, in order to provide the necessary banking facilities to support plans and programs aimed at providing housing services to citizens, and with the aim of implementing the housing projects and programs included in the government program 2023-2026.
Under this agreement, the National Bank of Bahrain will coordinate the financing agreement in cooperation with the Bahrain Islamic Bank, which will act as an agent bank, which includes two tranches, the first of which is financed by the National Bank of Bahrain in cooperation with Standard Chartered Bank, Boubyan Bank, and Warba Bank, with contributions from Gulf International Bank, the Housing Bank for Trade and Finance, and Habib Bank, while the second tranche includes the provision of financing and other banking facilities by the National Bank of Bahrain, Bahrain Islamic Bank, in addition to Al Baraka Islamic Bank.
During the signing of the agreements, Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning and Chairman of the Board of Directors of the Housing Bank, confirmed that the signing of the joint financing agreement worth 250 million Bahraini dinars comes within the framework of the ongoing partnership with private sector institutions to support efforts to provide housing services to citizens, in accordance with the plans and programs of the Ministry of Housing and Urban Planning and the Housing Bank, aiming to implement the objectives of the government program 2023-2026, as well as the projects and programs included in the state’s general budget 2025-2026.
The Minister of Housing and Urban Planning added that the signing of the joint financing agreement with banking institutions at the national, regional and international levels reflects the position of the Housing Bank in the financial markets, and indicates the bank’s role in providing the housing needs of citizens, especially at the level of the housing finance programme, in which the Housing Bank had significant contributions with the Ministry of Housing and Urban Planning in providing thousands of housing services to citizens during recent years in a flexible and immediate manner, stressing that activating the joint financing agreement will contribute to enhancing the ability of the Housing Bank to continue implementing housing initiatives and programmes, in a way that reflects To accelerate the pace of providing adequate housing for citizens.
For his part, Abdullah Talib, Director General of the Housing Bank, said that this agreement represents an important step in enabling the Housing Bank to continue achieving its goals and meeting the housing needs of citizens in various governorates of the Kingdom, praising the confidence of the Ministry of Housing and Urban Planning, and the cooperation of the partner banks, which contributes to providing the financial resources necessary to expand the provision of housing services during the next stage.
In turn, Mr. Othman Ahmed, Group CEO of the National Bank of Bahrain, expressed his happiness and pride of all the bank’s employees in strengthening the partnership with the Housing Bank to provide housing services to citizens, noting the role of the National Bank of Bahrain in this agreement, as the sole coordinator and one of the main arrangers, stressing that this financing will contribute to continuing to achieve the goals of economic and social development in the Kingdom of Bahrain, in line with the National Bank of Bahrain’s commitment to achieving national goals and supporting sustainable development.
In turn, Fatima Al Alawi, CEO of Bahrain Islamic Bank, confirmed that Bahrain Islamic Bank, as the participating agent bank in this agreement, is keen to continue enabling citizens to obtain housing services, which are consistent with the directives of the wise leadership, and enhance the bank’s contribution to achieving the sustainable development goals of the Kingdom of Bahrain.
In a related context, Dr. said: Boutros Klink, CEO of Standard Chartered Bank in Bahrain, said that the bank always seeks to provide its international expertise and regional capabilities to support the objectives of the Housing Bank, indicating that Standard Chartered, given its presence in the Kingdom of Bahrain for a period exceeding 100 years, is natural for it to play a role in this agreement, which embodies their continued commitment to supporting the development process in Bahrain.
For his part, Vice Chairman and CEO of Boubyan Bank Group, Mr. Adel Abdul Wahab Al Majed, said that the bank’s participation in this strategic cooperation reflects its commitment to supporting major development projects in the region, stressing Boubyan’s keenness to provide innovative and flexible Islamic financing solutions that contribute to supporting national development goals and enhancing regional cooperation.
Meanwhile, Mr. Shaheen Hamad Al-Ghanim, CEO of Warba Bank, indicated the bank’s keenness to provide the necessary support to the Housing Bank by participating in this agreement, which reflects its commitment to promising initiatives that enhance economic and social stability.
In conclusion, Dr. emphasized Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, Al Baraka Islamic Bank was keen
Achieving long-term success in Bahrain. The Bank has always provided support and assistance to national development goals, and they are determined to continue these efforts.
