The Ministry of Housing and Urban Planning held an expanded working meeting with representatives of banks and commercial banks, in the presence of the Governor of the Central Bank of Bahrain Rashid Al-Maraj, Sheikh Khalid bin Hamoud Al Khalifa, Undersecretary of the Ministry of Housing, and Dr. Khalid Abdullah, Director General of the Housing Bank, in order to follow up on the joint work plan for the implementation of the housing finance program The new, which was launched yesterday - Monday, was attended by a number of officials from the Ministry of Finance and National Economy, the Central Bank of Bahrain and the Housing Bank.
The ministry indicated that the meeting emphasized that the new housing finance program is a product of the continuous work to provide housing initiatives that ensure the provision of immediate housing solutions to citizens, indicating that the new housing finance establishes a new stage for partnership with the private sector, through diversifying options and financing purposes, stressing that these The funding comes within the framework of implementing the partnership axis with the private sector included in the government’s program, and in line with the objectives of Bahrain’s Economic Vision 2030.
The ministry also stated that the step of offering the new funds comes based on the great success achieved by the Mazaya Program, which represented the ministry's first initiatives in activating partnership with the private sector, noting that this initiative contributed to providing more than 10,000 housing services to citizens through Mazaya finance. Which the banks provided, and the government’s contribution through financial support to citizens in this program, which encouraged the expansion of this program by providing additional purposes for financing, as well as launching the Tas’heel program, which offers more options and various financing solutions.
The meeting touched on the importance of facilitating the procedures of the beneficiaries, during the next stage, and the continuation of joint coordination between the Ministry, the Housing Bank, banks and commercial banks, in order to achieve the sustainability of the success of these programs.
