Manama: Al Baraka Islamic Bank (AIB) has signed an agreement with University College of Bahrain (UCB) to provide education financing for students who wish to enrol at the university.
A signing ceremony was held at Al Baraka’s headquarters, attended by Al Baraka Islamic Bank Business Group general manager Tariq Kazim, and UCB founder and executive chairman Dr Shaikh Khalid bin Mohammed Al Khalifa, along with senior officials from both parties including retail banking head Fatema AlAlawi and product development head Mohamed Jamali at Al Baraka Bank, and UCB acting president Dr Rasha Samir.
Through the newly introduced education financing scheme, the bank aims to encourage promising students to achieve a higher education degree and advance in their future careers. The education financing scheme offers low profit rates over a maximum tenor of three years to those wishing to attain a higher education degree at local institutions that are fully-equipped to prepare the future generation with the necessary skills required to enter the job market.
Mr Kazim said: “We are pleased to be partnering with University College of Bahrain as the second university on board with our newly launched education financing scheme. We are proud to be the first in the market to offer such schemes which help prospective students in achieving their educational goals.
“This scheme is in line with our continuous efforts in providing students with easy access to attain a higher education degree from top local institutions. The scheme is aimed at creating a future generation that is capable of entering the labour market successfully upon graduation. We look forward to partnering with more universities in Bahrain.”
Dr Shaikh Khalid expressed his delight about this initiative and said: “We are proud to partner with Al Baraka Islamic Bank on their newly launched Sharia-compliant education financing scheme, and would like to praise their efforts in providing students with the resources required to excel in their future careers.”
“At University College Bahrain, we provide students with a wide range of courses from different specialisations, as we include the most recent practices within each field ensuring that graduates obtain professional knowledge and the required skills to be the leaders in their future professions,” he added.
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