Al Baraka Islamic Bank Funds Solar Energy Projects

Al Baraka Islamic Bank Funds Solar Energy Projects

Al Baraka Islamic Bank BSC (LLC) announced the signing of a memorandum of understanding with Al Mannai Projects, with the aim of providing funds to its clients who wish to purchase solar energy technology solutions from the company. Mr. Tariq Kazim,  General Manager - Business Group at Al Baraka Islamic Bank, signed the agreement on behalf of the Bank while Mr. Talal Al Mannai, CEO of Al Mannai Projects, signed it on behalf of the company.

The Bank intends to provide two financing options to clients, the first is short-term financing for seven years and the second long-term for 25 years, linked to the property financing. For its part, Al Mannai Projects provides solar technology solutions for homes, offices, buildings, apartment complexes, institutions, companies and others.

On this occasion, Mr. Tariq Kazim said, “We are pleased at Al Baraka Islamic Bank to celebrate the World Environment Day which falls on June 5, where we chose this occasion to announce the financing for the purchase of solar energy technology solutions in cooperation with Al Mannai Projects, the leading company in this field. We are confident that this new service will enjoy the satisfaction and demand of our valued customers, as solar technology has become an alternative to electric energy and has an increasing demand from customers, individuals, developers and companies as a result of its positive impact on the environment, and the encouragement and support that these projects enjoy from the official authorities concerned in the Kingdom of Bahrain ".

For his part, Mr. Talal Al Mannai expressed his happiness by signing the Memorandum of Understanding with Al Baraka Islamic Bank, which always seeks to provide the best financing services to clients. He explained that Al Mannai Projects, as an exclusive agent of GCL International, the world's leading energy company, will provide the best solutions and products for solar projects and the cooperation with Al Baraka Islamic Bank is a new breakthrough in the field of renewable energy supported by the government of the Kingdom of Bahrain within the vision of 2030.

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