A mortgage system is to be introduced in Bahrain's commercial banks following the signing of a Memorandum of Understanding (MoU) between the Housing Bank and Finance and National Economy Ministry.
Financial institutions will be able to offer mortgages with the support of the ministry, according to a statement released Tuesday. Ministry Under-Secretary Shaikh Ibrahim bin Khalifa Al Khalifa said the aim is to encourage commercial banks to play a larger role in financing real-estate loans.
