French Startup MGZN – BNB funds first beneficiary of new social housing solutions product, ‘Tas’heel’

Press release.

The National Bank of Bahrain (NBB) has successfully financed the first beneficiary under the “Tas’heel” financing solutions, enabling him to purchase a residential villa in Deerat AlOyoun, in collaboration with the Ministry of Housing and Welfare. ‘Planning and Eskan Bank. ‘Tas’heel’ falls under the latest housing finance schemes recently introduced by the Ministry of Housing and Town Planning.

Commenting on the occasion, HE the Minister of Housing and Urban Planning, Amna bint Ahmed Al Rumaihi, said, “As part of the ministry’s efforts to realize the vision of His Majesty King Hamad bin Isa Al Khalifa and in accordance with the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, we are keen to improve the housing services offered to the community by providing innovative housing solutions in collaboration with the private sector.

“The private sector is showing great skill in supporting and delivering housing services to our citizens, which has resulted in the funding of the first beneficiary of the new Housing Finance Solutions Program,” she said. added.

On his part, Dr. Khalid Abdulla, Managing Director of Eskan Bank, said: “Our latest housing initiatives are designed to facilitate and speed up the process of providing housing solutions to the citizens of the Kingdom. “Tas’heel” offers a range of social housing finance solutions that aim to support the citizens of Bahrain and meet their diverse housing needs. »

BNB Director General Jean-Christophe Durand added: “We are proud to be the first bank in the Kingdom to have successfully concluded a solidarity mortgage as part of the new “Tas’heel” social housing solutions. initiated by the ministry. housing and town planning. We continue to provide innovative products and services to our clients and remain committed to increasing our social loan funding, in line with our ESG strategy.

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Subah Abdullatif Al Zayani, Managing Director of Retail Banking at BNB, added: “Following our successes in providing Mazaya Scheme and Joint Housing finance solutions, we are more committed than ever to offering social housing finance. in collaboration with the Ministry of Housing and Urbanism. Planning. With an experienced team that provides knowledgeable advisory services and a smooth application and approval process, we continue to provide the best financing solutions to our clients. »

The Ministry of Housing and Urban Planning’s latest program, “Tas’heel”, which aims to increase the number of beneficiaries across the Kingdom, will offer three different funding options: Tas’heel Aqari, Tas’heel Al Bait Al Oud and Tas’heel Ta’awon, and will see new features added to the existing “Mazaya” program, as well as a continued offering of existing housing services.

The program will increase the minimum funding amount by 19,000 BHD at 40,000 BHDwhile increasing the ceiling of 60,000 BHD at 70,000 BHD. The age limit for “Mazaya” beneficiaries will also be raised to 40 years.