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NBB, Eskan team up to help Bahrainis buy their 'dream homes'

MANAMA, October 26, 2021

The National Bank of Bahrain (NBB) held an introductory awareness session in collaboration with Eskan Bank on the Joint Housing Finance product introduced by both banks. 
 
The session provided joint housing attendees with information on social loans and the joint housing scheme available from Eskan Bank, the mortgage loan options available to them from NBB, as well as additional details on the benefits of the housing scheme and the added value it presents to potential home-owners and Bahraini citizens eligible for the product.
 
Furthermore, the session discussed the key differences between both Mazaya and Joint Housing schemes, highlighting each scheme’s beneficiaries and the eligibility criteria, going on to address the product’s multiple purchasing and construction scenarios.
 
NBB said it is serving beneficiaries by financing a joint mortgage guarantee with Eskan Bank, to help boost the customer experience, and provide a wide range of housing financing solutions to enable applicants to acquire the home of their dreams.
 
A virtual seminar was held in September to discuss the many important aspects of the scheme and shed light on the foundations and concepts of the programme. 
 
The seminar received great attention from Eskan Bank, with both banks taking part, and was presented by Yousif Ebrahim, Senior Asset Product Specialist at NBB, alongside two members of Eskan Bank; Parween Ali, Head of Retail Banking, and Haifa Al Madani, Head of Legal. 
 
On the awareness session, CEO (Retail Banking) Subah Abdullatif Al Zayani said: "The Joint Housing scheme was launched along with Eskan Bank to help alleviate our customers’ financial burdens and introduce a new housing scheme to the market that works to their benefit."
 
"We are pleased to have held this session alongside our partners, which served to provide our customers with critical information to aid them in their selection process and highlight the array of benefits offered as we continuously aim to meet our customers’ needs," he stated.
 
Eskan Bank Retail Banking Head Parween Ali said: "Through this awareness session organised by the NBB, we were able to introduce a number of benefits, details and vital information advantageous to our customers."
 
"We hope to partake in additional sessions of this nature to answer all necessary questions and provide the beneficiaries of the Ministry of Housing with the ideal housing solutions to suit their individual needs," stated Ali.
 
The NBB had introduced the joint housing programme as a financing product in February this year. The product has proved highly popular amongst customers since its launch, fortifying the cooperation between the Eskan Bank and NBB.
 
Eskan Head of Legal Haifa Al Madani lauded the efforts of NBB on the joint mortgage programme, and described the session as a promising start to activate the bilateral cooperation agreement on joint mortgage with the leading bank. 
 
After presenting a historical overview about the programme, she touched upon on the simplicity of the idea, emphasising that the programme is part of Eskan Bank's endeavours to facilitate the process for citizens who wish to acquire the home of their dreams. 
 
Al Madani also highlighted as to how the programme allowed citizens who opt for housing finance to also obtain financing from one of the kingdom’s local banks, extending the same guarantee by mortgaging the property to Eskan and the financing bank at the same time as a guarantee for both. 
 
She emphasised the importance of the seminar and the joint activities that help the bank's clients by familiarising them with the products and financing options available, and enabling them to obtain suitable housing in the easiest way.-TradeArabia News Service



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