Mazaya monthly instalment cap cut to BD427 for all beneficiaries

TDT | Manama

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Mazaya housing finance scheme will cap monthly instalments at BD427 for all beneficiaries, after the Ministry of Housing and Urban Planning said the reduced ceiling is not limited to any one group.

In a reply to MP Khalid Buanaq, the ministry said the cap has been lowered by BD100 from BD527 to BD427, with state support continuing through to the end of the repayment period without being reviewed if a beneficiary’s pay rises.

The ministry said the Cabinet, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, backed the change after budget studies put the overall cost at up to BD825 million.

Decision

It said the decision keeps state support in place for citizens who had already reached the former ceiling, with an estimated BD100 a month in continued support for those cases.

The ministry also said it has raised monthly support for citizens who took early retirement for reasons beyond their control, reducing what is taken from them each month.

Two cases have been dealt with through rescheduling instalments and increasing the level of government support, it added.

Support

Figures from the ministry’s studies show 77 per cent of beneficiaries pay an average monthly instalment of BD173, while the average monthly support paid for people in that group is BD345.

The ministry said most of the support goes to this largest group, with the state covering 75 per cent of the gap between the maximum deduction and the actual amount deducted, while the citizen’s share is set at 25 per cent.

The ministry said it drew up the studies after requests from MPs and looked at raising support by finding extra funds outside its approved 2025–2026 budget.

Demand

On satisfaction, the ministry pointed to continued demand for Mazaya finance despite new options added since 2022 and a wider range of purposes.

It also said it receives weekly reports on cases sent through the Tawasul suggestions and complaints system, and carries out regular surveys, publishing results on its channels as part of a government programme on customer service.