Bank of Bahrain and Kuwait signs a Murabaha agreement with “Solidari” at a value of 58 million Bahraini dinars

The Bank of Bahrain and Kuwait, the pioneering bank in the field of banking services for individuals and companies in the Kingdom of Bahrain, has signed an Islamic Murabaha agreement of 58 million Bahraini dinars with the Solidrit Group Holding, with the aim of financing the group’s acquisition of the Bahrain National Insurance Company of Bahrain National Holding Company.

This agreement comes within the framework of the bank’s keenness to enhance its role as a strategic partner in supporting major projects that contribute to achieving economic growth and financial stability in the Kingdom of Bahrain, as it reflects its commitment to providing innovative financing solutions that are in line with the principles of Islamic Sharia, and meet the needs of customers and partners in various sectors, including the biological insurance sector.

On this occasion, Mr. Yasser Al -Sharifi, CEO of the Bank of Bahrain and Kuwait Group, stated: “We are proud to sign this agreement with the Soliderri Holding Group, to enable it to complete the acquisition of the Bahrain National Insurance Company, and we believe that this step establishes our commitment to providing unique financing solutions that serve companies in line with the principles of Islamic Sharia, confirming our tireless and permanent endeavor to strengthen Partnerships that contribute to supporting and facilitating major investments in the Kingdom.

Mr. Al -Sharifi added: “Through this agreement, the Bank of Bahrain and Kuwait affirms its steps with steady steps towards holding strategic partnerships with the leading institutions, and supporting its ambitious plans that contribute to strengthening Bahrain’s position as a regional and global financial center, hoping that this agreement will be the beginning of fruitful cooperation with the Soliderri Holding Group, and we look forward to continuing to work together to achieve more successes in the future.”

For his part, Mr. Ashraf Bseisu, CEO of Solidari Holding Group, said: “We extend our sincere thanks to the Bahrain and Kuwait Bank for his support for us in developing an innovative acquisition plan, which contributed greatly to reducing the time period of implementation and reducing the potential risks. While the deal is expected to be completed in April 2025, we have enabled this strategic cooperation to progress quickly and efficiently in a process The acquisition of the National Insurance Company through the Islamic Murabaha Financing Agreement, which represents an important achievement in strengthening long -term growth projects for the Soliderri Group. “

Mr. Bseisu added: “The confidence of the Bank of Bahrain and Kuwait in this deal stands as a witness to the strong performance of the Solidari Group and its position as a leading company in the regional insurance sector. This acquisition will also enhance our entrepreneurial position, and enables us to provide innovative products and distinct insurance solutions for a broader base of customers.”