Sakana contributes Zakat to orphanage
Manama, April 10, 2011
Bahrain-based Sakana Holistic Housing Solutions, the Islamic mortgage finance provider, has contributed BD 5,000 ($13,262) Zakat to Al Sanabel Orphans Care on behalf of its shareholders.
Sakana’s vice chairman Abdul Hakim Al Mutawa presented the cheque to Yousif Abdulla Uqab Member of the board of trustees and head of public relations and financial resources of Al Sanabel Orphans Care.
Sakana Holistic Housing Solutions commenced operations in December 2006 as a 50:50 joint venture between BBK and Shamil Bank. In early 2010, Capinnova Investment Bank, fully owned subsidiary of BBK acquired 50 per cent stake in Sakana from BBK.
Further, Shamil Bank was merged with its parent Ithmaar Bank in 2010 and accordingly Ithmaar Bank became a 50 per cent stakeholder.-TradeArabia News Service