August 11, 2022

An prolonged workshop was held on the Ministry of Housing and City Planning with representatives of banks and business banks, within the presence of the Governor of the Central Financial institution of Bahrain Rashid Al Maraj, Sheikh Khalid bin Hamoud Al Khalifa, Deputy Minister of Housing, and Dr. Khalid Abdullah, Basic Supervisor Housing Financial institution, to be able to implement the joint work plan for the implementation of the housing finance program. Ministry of Finance and Nationwide Economic system, Central Financial institution of Bahrain and Housing Financial institution.

The ministry indicated that the assembly highlighted that the brand new housing finance program is the results of an ongoing effort to offer housing initiatives that present residents with quick housing options, indicating that the brand new housing finance units a brand new stage for partnerships with the non-public sector. sector by diversifying funding choices and targets, emphasizing that this funding is a part of the implementation of the non-public sector partnership axis included within the Authorities’s agenda and consistent with the targets of the Bahrain Financial Imaginative and prescient 2030.

The ministry additionally stated the transfer to offer new funds builds on the good success of the Mazaya program, which was the ministry’s first initiatives to step up partnerships with the non-public sector, noting that the initiative has contributed to the availability of greater than 10,000 housing providers. residents by means of Mazaya funding offered by banks and the federal government’s contribution of monetary assist to residents on this program, which has contributed to the enlargement of this program by offering extra funding targets, in addition to the launch of the Tas’heel program, which presents extra alternatives and varied monetary options.

The assembly touched upon the significance of simplifying procedures for beneficiaries within the subsequent section and persevering with joint coordination between the Ministry, the Housing Financial institution, banks and business banks to make sure the sustainable success of those packages. .

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