BisB Partners with “Bareeq Al Retaj” to Offer Exclusive Mortgage Financing Rates

08-December-2024

Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has signed a mutual agreement with Bareeq Al Retaj Real Estate to offer enhanced financing options for customers seeking to buy two of Bareeq Al Retaj’s real estate developments: “Ras Hayyan” Village and “Wahati” Apartments in Galali.

As part of the agreement, BisB will extend its competitive Property Finance services to customers interested in purchasing properties within these projects. The financing solution includes several attractive features, such as a minimum down payment of just 5%, a flexible financing tenor of up to 30 years, and competitive annual profit rates. In addition, customers who avail BisB’s Property Finance under this agreement will benefit from free fire insurance during financing period to further ease the homeownership process and ensure peace of mind.

Ms. Fatema AlAlawi, Acting Chief Executive Officer of BisB, said: “We are pleased to collaborate with Bareeq Al Retaj Real Estate to deliver an enhanced and seamless mortgage financing experience to our customers. At BisB, we continually strive to offer innovative and customer-centric solutions, and this agreement underscores our commitment to facilitating homeownership by providing accessible financing options with compelling incentives. We look forward to supporting our customers in making their homeownership dreams a reality.”

Mr.  Yousif Mohamed Bucheeri, Chief Executive Officer of Bareeq Al Retaj remarked, “This cooperative effort with BisB stems from our dedication to making premium real estate accessible to more buyers through flexible and competitive financing solutions. Ras Hayan Village and Wahati Apartments are two vibrant communities that meet modern lifestyle needs for citizens and residents alike. With BisB’s financing expertise, we aim to ensure that owning a home in one of these developments becomes a seamless and rewarding experience".

BisB’s mortgage Finance is renowned for its simple application process and fast approvals, making it easier for customers to secure the necessary financing. The Bank also gives the option of applying jointly, allowing for a higher finance amount to be granted, which is particularly beneficial for larger purchases. This strategic partnership with Bareeq Al Retaj reflects BisB’s commitment to offering customers convenient and accessible financing solutions in Bahrain’s growing property market.

To learn more about BisB’s mortgage Finance, please visit BisB’s website at https://ebisb.com/, call the contact centre at 17515151, or follow the Bank’s official Instagram page @bahrainislamicbank.