In an effort to simplify its customers’ banking experience, Bahrain Islamic Bank (BisB) has reduced the down payment rate from 10 per cent to 1 per cent for the Bank’s Social Housing Finance Scheme “Mazaya”, which was launched in cooperation with the Ministry of Housing in 2014.
BisB was one of the first banks to initiate a partnership with the Ministry of Housing for its customers, with the overall aim of introducing a social housing finance scheme to meet the needs of customers and support them in purchasing a housing unit.
“At BisB, we are continually striving to develop the line of products and services we offer and are especially focused on facilitating the execution of various financial transactions. Ultimately, we are aiming to transform our customers’ overall banking experience,” said the general manager of Retail Banking, Dalal AlQais.
“The bank has always sought to provide a comprehensive range of financing solutions that meet the different needs of a variety of customer segments, and we continue to devote our utmost efforts in order to simplify our customers’ daily banking transactions. By introducing a reduced down payment rate of 1% for “Mazaya”, it will become easier for potential customers to acquire housing units,” she added.