Ithmaar Bank signs a memorandum of understanding with Al Nisr Contracting Company to support the establishment of government projects

Ithmaar Bank, the Bahrain-based Islamic retail bank, has signed a memorandum of understanding with Al Nisr Contracting Company to support the development of social housing projects.

The memorandum of understanding was signed by the Head of Corporate Banking at Ithmaar Bank, Mr. Amr Al-Shaher, and the CEO of Al-Nisr Contracting Company, Mr. Ammar Rajab, at the bank’s headquarters in Seef Tower.

On this occasion, Mr. Al-Shaher said: “We are pleased to announce that Ithmaar Bank has signed a strategic partnership with Al-Nisr Contracting Company, which has become one of the most prominent construction contracting companies in the Kingdom of Bahrain. This partnership reflects the bank’s commitment to providing banking solutions and services that meet the needs of our corporate clients and contribute to enhancing the bank’s participation in supporting government projects.”

Mr. Al-Shaher added: “Ithmaar Bank aims to play a major role in ensuring the sustainability of the development of social housing projects and supporting its corporate clients to develop government real estate projects in a way that contributes to the growth of this vital sector. Through these partnerships, we seek to continue supporting our corporate clients by providing banking solutions specifically designed to help them expand, provide high-quality projects, and ensure the achievement of their goals.”

For his part, Mr. Rajab said: “Ithmaar Bank is one of the leading banks in the Kingdom of Bahrain that provides distinguished services to companies and business owners. This cooperation will contribute to enabling us to continue implementing high-quality real estate projects in accordance with the highest standards in a way that supports government initiatives and contributes to the recovery of the contracting sector in the Kingdom of Bahrain.”