Latest news with #MazinDhaif
Daily Tribune
a day ago
- Business
- Daily Tribune
Cash, celebration and a grand prize
TDT | Manama Al Baraka Islamic Bank marked Eid Al Adha with a celebration of loyalty and good fortune, awarding its June Grand Prize worth USD 120,000 and naming 50 additional winners of Eid cash rewards under its Al Barakat Investment Account programme. The headline prize, structured as a monthly salary of USD 10,000 for one full year, went to Mr. Sayed Hadi Mohsen Alawi. His name was drawn in a public raffle held at the bank's Bahrain Bay headquarters, where customers, auditors, and officials from the Ministry of Industry and Commerce were present. Branch visitors also took part in the process by helping randomly select winners. Banking with rewards Alongside the main winner, 50 Al Barakat customers received Eid Al Adha cash prizes of USD 500 each. The festive timing and scale of the draw underscored the Bank's message of inclusivity, customer appreciation, and community celebration. Chief Retail Officer Mazin Dhaif noted that the Al Barakat Account continues to turn clients' savings into opportunities. He described the prize scheme as more than a financial reward, calling it 'a life-enhancing tool' that reflects the Bank's commitment to rewarding loyalty through Shari'a-compliant savings. Largest prize pool With a total prize pool of USD 4 million in 2025, the Al Barakat scheme stands as the largest of its kind in Bahrain's Islamic banking sector. The bank said the programme is designed to strengthen customer trust by blending consistent saving habits with chances to win valuable rewards. The Al Barakat Investment Account is available via the Bank's mobile app with a minimum deposit of BD 50 or USD 135. Accounts can also be opened for minors through a legal guardian. All cash prizes are awarded under Shari'a guidelines, reinforcing Al Baraka's promise of ethical banking that uplifts its community.
Daily Tribune
15-05-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank joins Al Helli supermarkets in celebrating golden jubilee
Al Baraka Islamic Bank Bahrain, a leading Islamic financial institution in the Kingdom, has recently announced the launch of a special promotional campaign to join Al Helli Supermarkets in celebrating their Golden Jubilee, marking 50 years since their establishment in the Kingdom of Bahrain in 1975. The promotional campaign will start May 15th and will run until June 15th. During this period, Al Baraka Islamic Bank will select 50 customers by draw to win a full cashback refund on their purchases made in Al Helli Supermarkets using Al Baraka Mastercard credit cards, up to a maximum of BD200, provided they spend at least BD50 per transaction during the promotional period. On this occasion, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, stated: 'We are delighted to join Al Helli Supermarkets in celebrating their Golden Jubilee and 50 years of successful operations in the Kingdom of Bahrain, through the launch of this exclusive promotional campaign. This initiative gives our valued Mastercard credit cardholders rewarding opportunities to win full cashback on their purchases when using their cards in any branch of Al Helli Supermarkets across Bahrain. This campaign affirms that the strategic partnership between Al Baraka Islamic Bank and Al Helli Supermarkets extends beyond this promotional initiative, ensuring that the relationship remains ongoing and continues to evolve through future joint projects and offers.' He added: 'This initiative is part of Al Baraka Islamic Bank's strategy to strengthen our relationships with partners and expand the scope of our services. The Bank is always keen to offer unique promotions that meet the aspirations of our customers and provide them with opportunities to win exclusive rewards. Our partnership with Al Helli Supermarkets is an example of our commitment to providing exceptional shopping experiences and greater value to our loyal customers, by expanding our network of partnerships and collaborating with leading commercial organisations in the Kingdom. We invite all our valued customers to seize this opportunity and benefit from this valuable promotional campaign, making their shopping experience during this period both rewarding and profitable at Al Helli Supermarkets.' For his part, Mr. Ammar Al Helli, Chairperson of Al Helli, said: 'We are proud of our 50-year journey serving the Bahraini community through our network of Al Helli Supermarkets branches located throughout the Kingdom, where we provide a comprehensive shopping experience and offer a wide range of high-quality products to our valued customers.' He added: 'As we celebrate 50 years since the founding of Al Helli Supermarkets, we are pleased to collaborate with Al Baraka Islamic Bank in launching this special promotional campaign, providing our valued customers with a rewarding and profitable shopping experience. We welcome all customers visiting Al Helli Supermarkets to benefit from this valuable campaign and look forward to serving all our valued customers and meeting all their shopping and product needs.' Al Helli Supermarkets began its journey in 1975, starting as a small shop and growing to become one of the most prominent and successful institutions in the retail sector in the Kingdom of Bahrain, now boasting 14 branches across the Kingdom.
Daily Tribune
07-05-2025
- Business
- Daily Tribune
Al Baraka Islamic strengthens partnership with Delmon Gate Real Estate
Al Baraka Islamic Bank Bahrain, a leading Islamic financial institution in the Kingdom, has recently announced the expansion of its strategic partnership with Delmon Gate Real Estate Company, a prominent developer in Bahrain. This collaboration aims to provide accessible and diverse housing financing solutions enabling citizens to purchase residential units within Delmon Gate's projects. The signing ceremony took place at Al Baraka Islamic Bank's headquarters in Bahrain Bay, where Mr. Mazin Dhaif, Chief Retail Officer, and Mr. Ali Abdulla, CEO of Delmon Gate Real Estate, officially signed the agreement in the presence of senior managers and officials from both sides. Aligned with Al Baraka Bank's commitment to addressing the housing needs of Bahraini citizens and promoting integration of banking and real estate sectors, this enhanced partnership seeks to broaden access to ownership of Delmon Gate projects. It offers tailored financing solutions designed to accommodate various financial capabilities, supporting the Kingdom's social housing initiatives in collaboration with the Ministry of Housing and Urban Planning as well as Eskan Bank, in line with Bahrain's Economic Vision 2030. The bank provides a range of innovative real estate financing options including Flexible Real Estate Financing which allows adjustment of profit rates every six months based on Bahrain's variable bank rates, enabling customers to benefit from potential rate reductions or effectively manage increases. Additionally, the bank provides social housing financing, which includes the newly launched Tasheel+ Instant Housing Finance. This allows customers to access funding of up to 91,000 Bahraini Dinars, with evaluation criteria based on beneficiaries' monthly incomes ranging from BHD 600 to BHD 1,200. This ensures quick procedures and meets the various circumstances of customers, along with other financial solutions designed to cover the needs of Bahraini families. Commenting on the partnership, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank stated: 'Our innovative financing solutions are designed to meet the evolving needs of Bahraini families, fostering economic growth and creating an attractive environment for real estate investment. Therefore, we have designed a range of innovative real estate financing solutions that meet the actual needs of Bahraini families. These include financing for the purchase of ready-to-move-in homes, as well as construction finance for land purchases and building one's dream home at once—key offerings that set the bank apart in serving its customers.' Mr. Ali Abdulla, CEO of Delmon Gate Real Estate added, 'The expansion of this strategic partnership will offer citizens a genuine opportunity to own homes that meet their needs and secure a stable future. It also reflects our company's commitment to providing sustainable and innovative housing solutions that support the national economy through a comprehensive approach integrating banking and real estate expertise.' Al Baraka Islamic Bank is a leading Islamic bank in the Kingdom of Bahrain. Since its establishment in 1984, it has delivered outstanding results in operations and services for both individual and corporate clients. The bank has a proven track record of developing and providing innovative Shari'a-compliant investment solutions to a diverse global client base.
Daily Tribune
03-03-2025
- Automotive
- Daily Tribune
Cash prizes included: Al Baraka Islamic Bank expands special offers on car financing during Ramadan
Al Baraka Islamic Bank Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, has announced that its ongoing exceptional '12X12X12' auto finance campaign continues to provide a unique opportunity for those seeking car financing, where the bank will pay 12 months instalments for 12 lucky customers. This initiative allows customers to secure the financing and rewarding them for their choice, reflecting the bank's commitment to providing innovative financial solutions tailored to clients' needs. In addition to this ongoing promotion, and on the occasion of the advent of the Holy Month of Ramadan, the bank also announced an additional benefit, allowing customers who apply during this promotional period to avail the opportunity to receive cash rewards of up to BD 200, exclusively set aside for the first 70 clients, as well as additional rewards. The promotion also includes a very attractive and competitive profit rate, making it an ideal option for customers looking for car finance during the Holy Month. Furthermore, the bank offers a grace period of up to six months, allowing customers to repay their indebtedness with greater flexibility and without the immediate pressure of payments at the start of the repayment period. The promotion features swift approval and an easy, efficient processing of applications within one day, ensuring a convenient experience for customers. This initiative underscores the bank's dedication to delivering high-quality services that encompass all aspects of financing, reaffirming Al Baraka Islamic Bank's persistent commitment to meeting customer needs. Commenting on the occasion, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank Bahrain, stated: 'We are delighted to introduce these special car financing offers during the blessed month of Ramadan, reflecting our dedication to providing distinctive and suitable financing solutions for all customers. We recognise the significance of this month for our clients, and we are committed to offering real value through these unique promotions.' He added: 'I encourage all valued customers to take advantage of this exceptional opportunity, as accessible car financing plays a vital role in helping them fulfil their aspirations and meet their needs. We are continuously working on innovating new offers to meet their expectations, and we thank them for their unwavering support and engagement with us during this period.'
Daily Tribune
25-02-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank launches first flexible real estate finance in Bahrain
Al Baraka Islamic Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of a unique, innovative real estate financing product. The first of its kind in the Kingdom, 'Flexible Real Estate Finance' is based on the interest rates between banks in Bahrain (BHIBOR). Flexible Real Estate Finance is distinguished by its flexibility in adjusting the future rental (instalment) or finance tenor by adjusting the profit rate according to the changes in the interest rates between banks in Bahrain (BHIBOR) every six months, since the profit rate may rise or fall depending on market changes, allowing customers to benefit from lower rates in the event of a decline. This new product targets individuals wishing to avail mortgage finance to purchase land or residential units or for construction, and who prefer to benefit from the advantages of the variable profit rate. The bank confirms that this product represents an ideal choice for customers seeking flexible financing solutions that are compatible with market changes which enable the customer to reduce the cost of financing. The customer can also switch to any other suitable financing structure at any desired time without additional cost. In a statement, Dr. Adel Salem, Chief Executive Officer of Al Baraka Islamic Bank, said: 'We strive to be the first to offer various banking services and products that provide an exceptional experience to our customers and fulfil their various aspirations, especially with regards to financing solutions that prioritise them in various circumstances. The Flexible Real Estate Finance product also falls in line with the bank's endeavours to support the real estate movement in the Kingdom by providing innovative and unique solutions.' For his part, Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, added: 'We are proud to be pioneers in offering this innovative product that meets the needs of a customer segment in a flexible manner. We are confident that this product will be an ideal choice for individuals seeking real estate financing that adapts to changing market conditions to benefit from that change.' The launch of this product comes within the framework of Al Baraka Islamic Bank's strategy to enhance its financing portfolio and provide innovative solutions that meet the Bahraini market's growing needs in the real estate financing sector. Through this launch, the bank aims to strengthen its position as one of the leaders of the Islamic financial market in Bahrain, offering distinguished services and banking products that meet the needs of customers in an integrated and flexible manner.
