BisB offers property swap feature without altering financing terms

TDT | Manama

Email: mail@newsofbahrain.com

Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has introduced a firstof-its-kind Property Swap Feature that enables customers to relocate or upgrade their homes without altering their existing financing terms.

Designed for Bahraini individuals and families, the service facilitates a simultaneous property exchange by eliminating delays and complex administrative procedures. Clients can replace their financed property with a new one while maintaining their current mortgage agreement to ensure greater financial stability and freedom.

The new solution is also available to beneficiaries of the Mazaya programme, allowing them to acquire additional funding to cover price differences when transitioning to a new property. To ensure a seamless and flexible experience, BisB offers a smooth transition without affecting your Mazaya financing. Customers can also benefit from the possibility of adding additional financing to cover the difference for their new property, along with competitive profit rates and a 6-month grace period on additional financing for greater financial ease.

Mr. Faisal Al Abdulla, Acting Chief Retail Banking Officer at BisB said, “This product is a strategic step towards making sure that our customers can enhance their living spaces without disruptions.”