Al Salam Bank Unveils New Housing Finance Solutions
Al Salam Bank collaborates to launch 'Tasheel+' and new financing products, enhancing housing finance options in Bahrain.
Summary
Al Salam Bank, in partnership with the Ministry of Housing and Urban Planning and Eskan Bank, introduces 'Tasheel+' and 'Reducing Installment Additional Financing' to bolster housing finance solutions in Bahrain.
In a strategic move to strengthen its foothold in the housing finance sector, Al Salam Bank has announced the launch of the 'Tasheel+' product, a comprehensive financing solution developed in collaboration with the Ministry of Housing and Urban Planning and Eskan Bank. This initiative is designed to provide enhanced financial solutions for citizens under social housing initiatives in Bahrain.
The 'Tasheel+' product combines the features of the existing 'Mazaya' and 'Tasheel' schemes, offering financing of up to BD 91,000 with flexible contribution options. This innovative approach aims to empower citizens to achieve homeownership within a financially stable framework.
Furthermore, Al Salam Bank has introduced a new financing model, 'Reducing Installment Additional Financing', which gradually decreases the installment amount over time as the client's contribution to 'Tasheel+' increases. This allows beneficiaries to access a higher overall financing amount while maintaining stable monthly commitments, thereby easing financial burdens during the initial stages of homeownership.
Mr. Anwar Murad, Deputy CEO - Banking at Al Salam Bank, expressed his satisfaction with this collaboration, highlighting the importance of public-private partnerships in addressing Bahrain's housing agenda. He emphasized the bank's commitment to delivering integrated and accessible financing solutions that align with citizens' aspirations.
Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, echoed these sentiments, stating that the 'Tasheel+' product reflects the bank's ongoing efforts to support national initiatives and deliver meaningful impact through practical and accessible financing solutions. The bank is also offering additional incentives, such as a BD 500 cashback for the first 20 clients and exemptions from valuation and fire insurance fees.
Al Salam Bank's proactive approach in launching these products demonstrates its dedication to financial inclusion and social sustainability, aiming to enhance the quality of life for the wider Bahraini community. Given the bank's strong financial standing and innovative product offerings, investors might consider this an opportune moment to buy the instrument.
Source
Summary
Al Salam Bank, in collaboration with the Ministry of Housing and Urban Planning and Eskan Bank, has launched "Tasheel+", a new financing solution that combines the features of the "Mazaya" and "Tasheel" schemes. This product offers up to BD 91,000 in financing with flexible contribution options, aiming to provide comprehensive financial solutions for social housing initiatives. Additionally, Al Salam Bank introduced "Reducing Installment Additional Financing," which decreases installment amounts over time as the client's contribution increases, allowing for higher overall financing while maintaining stable monthly payments. The bank's Deputy CEO, Anwar Murad, and Head of Retail Banking, Mohammed Buhijji, emphasized the bank's commitment to supporting national housing initiatives and promoting financial inclusion. The first 20 clients of the program will receive a BD 500 cashback, and all beneficiaries will enjoy benefits such as exemption from valuation and fire insurance fees, no down payment, and competitive profit rates, subject to campaign terms and conditions. For more details, contact Al Salam Bank or book an appointment via the Skiplino app.
