Al Salam Bank Introduces 0% Profit Grace Period for Social Housing Financing under the Government Land Development Programme

Al Salam Bank announced a range of exclusive offers and benefits for Social Housing beneficiaries, coinciding with its participation as Platinum Sponsor of the Social Housing Innovation Summit 2026, as part of its commitment to providing flexible financing solutions that facilitate citizens’ journey towards homeownership.

In a first-of-its-kind initiative, Al Salam Bank will offer eligible beneficiaries purchasing off-plan units within selected Government Land Development Programme (GLDP) projects a 0% profit grace period until the project’s agreed completion date, for a maximum of 12 months. The grace period will apply to both the main subsidized Tasheel or Tasheel+ financing and any eligible additional financing, during which beneficiaries will not be required to make any payments and no profit will be charged. The initiative is designed to provide greater financial flexibility by allowing beneficiaries to begin their financing repayments closer to the completion and handover of their new homes.

Commenting on the occasion, Her Excellency Mrs. Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, said: “We continue to advance the Social Housing ecosystem by strengthening partnerships with the private and banking sectors, contributing to the availability of more diverse and flexible financing solutions for citizens and expanding their options for suitable homeownership. The Social Housing Innovation Summit represents an important platform for showcasing innovative initiatives and solutions that support the continued development of the housing sector, and we are pleased to see initiatives from banking institutions that support beneficiaries and facilitate their journey towards homeownership.”

Mr. Anwar Murad, Group Deputy Chief Executive Officer – Banking at Al Salam Bank, said: “Our participation in the Social Housing Innovation Summit reflects our commitment to continuously developing financing solutions that complement the initiatives of the Ministry of Housing and Urban Planning and Eskan Bank, while adding value for beneficiaries. Through the 0% profit grace period initiative, we aim to provide eligible beneficiaries with greater flexibility during the construction phase of their homes, allowing their financial commitments to commence closer to the handover of their properties. We have also introduced a comprehensive range of benefits and offers during the Summit to make the Social Housing financing experience more convenient and flexible.”

Abdulla Taleb, General Manager of Eskan Bank, said: “We welcome initiatives that contribute to the development of housing finance solutions and provide greater flexibility for citizens benefiting from Social Housing programmes. This initiative reflects our continued collaboration with our banking partners to facilitate the homeownership journey and deliver solutions that address beneficiaries’ needs throughout its different stages.”

In addition to the main initiative, Social Housing applicants will benefit from a range of exclusive offers provided by Al Salam Bank during the Summit, including eligibility to participate in the Bank’s Financing Settlement Campaign, with dedicated prizes for qualifying Social Housing beneficiaries. Eligible Tasheel+ beneficiaries will also have access to higher additional financing amounts with reducing monthly instalments. Other benefits include waivers of property valuation fees, fire insurance fees, down payment requirements and administration fees, alongside loyalty reward points, a quick and convenient approval process, competitive financing profit rates and special profit rates on Al Salam  Life Planning Account for Tasheel and Tasheel+ beneficiaries

Beneficiaries will also have access to a complimentary BHD 50 voucher upon redemption, subject to the offer’s terms and conditions as part of the additional benefits accompanying the Bank’s financing solutions during the Summit.

Visitors to Al Salam Bank’s booth at the Summit will also have the opportunity to win instant cash prizes and receive special financing discounts by depositing a minimum of BHD 50 into their Danat account.

Al Salam Bank invites visitors to the Social Housing Innovation Summit 2026 to visit its booth and learn more about the available financing solutions and exclusive offers, while engaging with the Bank’s team to explore options that suit their homeownership needs and plans.