BisB Signs Strategic MoU with Mazad to Introduce Installment Payment Options for Credit Card Holders and Explore New Collaboration Opportunities

11-November-2026

Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has signed a strategic Memorandum of Understanding (MoU) with Mazad, Bahrain’s leading digital auction and marketplace platform, and a Mumtalakat portfolio company. The agreement establishes a framework for collaboration aimed at enhancing customer value and expanding the range of services and benefits available to them, while ensuring greater convenience and flexibility.

A key area of cooperation involves the potential introduction of instalment payment options for BisB credit cardholders when bidding on and purchasing assets through the Mazad application. Through the MoU, the two entities aim to provide customers with greater choice in managing their purchases, making it easier to access assets and opportunities available through the platform. Both parties will also explore additional initiatives that draw on their respective capabilities to develop practical solutions and enhance the overall customer experience.
 

Commenting on the agreement, Mr. Faisal Al Abdulla, Chief Retail Banking Officer at BisB, said: "Our approach to customer value is centred on creating meaningful connections between banking and the services people use in their everyday lives. Through this collaboration with Mazad, we see an opportunity to extend the benefits of our financial solutions into a growing digital marketplace, giving customers greater flexibility and choice. The MoU also provides a foundation for exploring further initiatives that respond to their evolving needs and introduce new advantages in the period ahead."

For his part, Nezar Habib, Chief Executive Officer of Mazad, stated: "This MoU marks an important milestone in Mazad’s journey towards building strategic partnerships that broaden the range of services available to our users, while providing them with greater flexibility when completing their purchases. We look forward to developing joint initiatives that integrate financial solutions and digitise financing options for our app users. We strongly believe this will contribute to the continued growth of our platform, enhance the user experience, and empower participants to purchase their assets more seamlessly and conveniently "

The MoU brings together BisB's expertise in delivering retail banking solutions and Mazad's experience in managing and organising public and online auctions. By combining their strengths, both organisations aim to create new avenues for cooperation, develop high-quality offerings that respond to customer needs, and contribute to continued innovation across Bahrain's financial and digital services landscape.