Al Salam launches new property finance scheme
Manama, May 30, 2009
Al Salam Bank-Bahrain has announced the launch of a new property funding scheme, Dari property financing, which offers customers a repayment period of 30 years.
The Al Salam Bank's scheme is aimed at achieving the desires of its customers to own their dream properties, the bank said in a statement.
Dari is Shari’a compliant that offers to customers various types of contracts that matches the multi purposes property financing including purchasing houses, commercial and investment apartments, commercial and investment real estates, lands and financing home building or home extension.
It is in continuation of a series of promotional campaigns by Al Salam Bank for special products, said the statement.
Dari is designed to match the bank’s customers need through flexible, relaxed and long-term repayment period of up to 30 years, it noted.
Nabeel Al Tattan, executive vice president-head of Mena, said that Dari becomes significant owing to the rapid growth and development of the real estate sector which Bahrain is witnessing nowadays.
The capacity of this product meets the needs of customers through simple and innovative solutions, he noted.
Al Tattan, asserted that the benefits of this campaign come under the framework of quick service to the bank’s customers hinting that the bank will exempt those who apply for Dari from any hidden charges.
'Additionally, the bank provides its customers with simple repayment system at competitive rates to match the needs of their purchasing abilities,' he added.
Al Salam Bank-Bahrain has started receiving Dari Property Financing application requests at its main branch in Seef district and its Business Centre in Bahrain City Centre.-TradeArabia News Service