Al Salam Bank Unveils Exclusive Financing Offer for Tas’heel and Enhanced Mazaya Schemes Beneficiaries Facilitating Homeownership in Deerat Al Oyoun, and Danat Al Lawzi Projects

Press release

Published June 23rd, 2024 - 05:44 GMT

Al Salam Bank

Manama, Bahrain – 22 June 2024: Al Salam Bank, a leading financial institution in the Kingdom, is pleased to announce the launch of its exclusive financing offer tailored for beneficiaries of the Tas’heel and Enhanced Mazaya schemes aspiring to own property in the Deerat Al Oyoun in Diyar Al Muharraq, or the Danat Al Lawzi project in Hamad Town. This exclusive offer initiative, introduced in collaboration with the Ministry of Housing and Urban Planning and Eskan Bank, commences on 23 June 2024.

Beneficiaries have the opportunity to explore available residential villas through the Baity App or by visiting Al Salam Bank’s dedicated booths located at showcase villas. The exclusive offer features a multitude of benefits aimed at making homeownership more accessible and affordable. These include cash rewards of BD 2,000 for Deerat Al Oyoun beneficiaries and BD 5,000 for buyers of Danat Al Lawzi properties. Additionally, the offer features a grace period of up to 6 months to provide further financial flexibility.

Al Salam Bank offers the most attractive home financing options in the market with affordable installment plans and competitive profit rates. This ensures that beneficiaries can secure property financing that comfortably fits within their budget. The Bank’s streamlined approval process provides a fast and efficient experience for Tas’heel and Enhanced Mazaya schemes beneficiaries.

In addition to the core financing benefits, the Bank also provides a range of advantages that further incentivize homeownership. These include earning loyalty rewards and benefiting from waived financing insurance fees, administrative fees, and down payments.

Al Salam Bank also offers free real estate consultations to clients in partnership with interior design and construction firm “We Invision Design & Execution”, special offers from Al Salam Gas, and the chance to enter a draw where five winners will receive three months’ worth of installments.

Reflecting on this collaboration, Mr. Abdulla Taleb, General Manager of Eskan Bank stated: “Our partnership with the Ministry of Housing and Urban Planning and Al Salam Bank presents a valuable opportunity for us to provide exclusive financing solutions to the citizens. It contributes to our collective dedication towards providing sustainable and comfortable housing for Bahrainis.”

For his part, Mr. Anwar Murad, Deputy Chief Executive Officer at Al Salam Bank said: “We are excited to unveil our latest exclusive offers for the beneficiaries of Tas’heel and Enhanced Mazaya schemes. Clients can own their dream home with installments starting from BD 164.5 (excluding the Tas’heel scheme installment), along with cash prizes and a grace period of 6 months. We invite all interested Al Salam Bank clients to take advantage of this exclusive offer.”

For more information, please access the 'Bayti' App, visit Al Salam Bank’s dedicated booths located in the show villas, or contact the Bank’s dedicated Relationship Managers: Mohamed Alyas at (+973) 35555601 and Majeed Yateem at (+973) 36688833. Alternatively, appointments can be booked at the virtual branch via the Skiplino App.

Background Information

Al Salam Bank

Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain.

ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank's high-caliber management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.