Al Baraka Islamic Bank Signs MoU with Edamah

Edamah (Bahrain Real Estate Investment Company), the real estate arm of Mumtalakat Holding Company (Mumtalakat) and Al Baraka Islamic Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the signing of a Memorandum of Understanding (MoU) during the activities of Cityscape Bahrain 2025.

This partnership enables Al Baraka Islamic Bank’s customers to benefit from Sharia-compliant real estate financing options to own residential units within the “Tivoli Residences” development at Bilaj Al Jazayer, one of Bahrain’s most prominent new waterfront destinations. The agreement offers prospective homeowners competitive financing packages and flexible repayment options, in line with the Bank’s approved real estate financing standards.

The signing of this MoU comes as part of Al Baraka Islamic Bank’s ongoing commitment to developing innovative financial solutions that meet customer needs and provide an integrated banking experience. It also aims to strengthen institutional partnerships that support the real estate sector and contribute to offering high-quality housing solutions that align with Bahrain’s urban development and future growth plans.

Mr Khalid Abdulrahman Al Majed, Chief Executive Officer of Edamah, stated: “We are pleased to announce our strategic partnerships with AlBaraka Bank, through which we will facilitate homeownership by offering flexible real estate financing solutions tailored to meet the needs of a broad range of clients. Tivoli Residences at Bilaj Al Jazayer represents modern living, offering a fully integrated urban community and generating long-term value for owners and investors.” He added: “This collaboration reflects our continued commitment to enhancing the competitiveness of Bahrain’s real estate sector and creating attractive opportunities for investors.”

Commenting on the occasion, Dr Adel Abdullah Salem, Chief Executive Officer of Al Baraka Islamic Bank, said: “Our collaboration with Edamah marks an important step in enhancing the Bank’s presence within the real estate financing sector. We remain committed to delivering Sharia-compliant solutions that allow our customers to own homes distinguished by exceptional locations and refined architectural designs. Tivoli Residences stands out as one of the most promising projects on the Bilaj Al Jazayer waterfront, offering superior quality and world-class standards in planning and execution.” He added: “We continue to advance our banking services in line with our commitment to meeting customer expectations and providing them with added value, while ensuring the highest levels of quality and flexibility throughout all stages of the real estate financing process.”

For his part, Mr Mazin Ahmed Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, said: “The signing of this MoU with Edamah reaffirms the Bank’s dedication to offering innovative financing solutions that enable customers to benefit from exceptional opportunities within one of Bahrain’s most significant new developments. Through this partnership, the Bank will provide a range of flexible financing benefits designed to meet diverse needs, including simplified financing conditions, suitable repayment periods and an efficient approval process that facilitates faster property ownership.”