Eskan Bank Signs $659.3 Million Partnership to Boost Housing in Bahrain

Eskan Bank, a state-owned housing bank in Bahrain, has entered into a major BD250 million ($659.3 million) agreement with three prominent financial institutions—National Bank of Bahrain (NBB), Bahrain Islamic Bank (BisB), and Kuwait’s Boubyan Bank. The collaboration aims to bolster Bahrain’s housing sector by providing joint financing to expand housing options for Bahraini citizens, as reported by the Bahrain News Agency (BNA).

This partnership supports the ongoing efforts of the Ministry of Housing and Urban Planning to implement policies that align with the government’s goal of offering affordable housing solutions. The agreement was formalized in the presence of Bahrain’s Minister of Housing and Urban Planning, Amna bint Ahmed Al Rumaihi, who also serves as Chairperson of Eskan Bank. Other signatories included Hala Yateem, Chairperson of NBB; Zaid Khalid Abdulrahman, Chairman of BisB; and Adel Al Majed, Vice Chairman and CEO of Boubyan Bank.

Minister Al Rumaihi emphasized the importance of private sector collaboration in addressing the kingdom’s housing needs. She noted the rising demand for housing finance programs and expressed her appreciation for the cooperation and efficiency demonstrated by the participating banks throughout the agreement process.

Source: Zawya