Al Baraka Islamic Bank (AIB), one of the leading Bahraini financial institutions in the field of Islamic banking, announced its first Sharia compliant educational financing scheme through services leasing, with Ahlia University, following a recent signing ceremony, which was held between both entities at Al Baraka’s headquarters.
The ceremony was attended by Mr. Tariq Kazim General Manager – Business Group of Al Baraka Islamic Bank, Ms. Fatema AlAlawi, Head of Retail Banking and other senior officials from Al Baraka Islamic Bank, in addition to Professor Abdulla Yusuf Abdulwahab Al Hawaj, Managing Director of Ahlia University, Professor Mansoor Ahmed AlAali, President of Ahlia University and Dr. Yusuf Janahi, Assistant Professor Information Technology Dept. College of Information Technology from Ahlia university.
The newly introduced education financing scheme offers low profit rates over a maximum tenor of 3 years, encouraging students to pursue their academic goals at local institutions. Through this partnership, the Bank aims to encourage prospective students to advance their career through institutions that are fully-equipped to prepare the future generation with the necessary skills required to enter the labour market.
Commenting on this occasion, Mr. Tariq Mahmood Kazim, General Manager – Business Group of Al Baraka Islamic Bank said: “We are proud to be at the forefront of the banking industry to offer students the opportunity to complete their higher education with our newly launched financing scheme designed to meet their needs. This scheme goes in line with our efforts to empower the future generation by ensuring they receive top quality education and are capable of entering the job market upon graduation. We are also pleased to have Ahlia University as the first educational institution on board with this new scheme and look forward to partnering with more universities across the Kingdom.”
“We are delighted to partner with a reputable bank such as Al Baraka Islamic Bank, and fully support their initiative in investing in students of the Kingdom of Bahrain, as we hope to contribute towards their educational success. At Ahlia University, we offer students a wide selection of programs which will help prepare them for their future careers.” said Professor Abdulla Yusuf Abdulwahab Al Hawaj, Managing Director of Ahlia University.