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Al Baraka Islamic Bank signs Education financing agreement with Royal University for Women

September 2, 2021
islamic finance

Al Baraka Islamic Bank (AIB), has signed an agreement with the Royal University for Women (RUW) to provide education financing that caters to students wishing to enroll at the university.

The signing ceremony which was held on Wednesday 25th of August 2021, at Al Baraka headquarters was attended by Mr. Tariq Kazim General Manager – Business Group of Al Baraka Islamic Bank, and Professor Yusra Mouzughi, President of Royal University for Women, Ms. Aysha Murad, Ms. Sumaya Alsayed and Mr. Mohamed Shawqi Al Bin Mohamed Senior Manager – Retail Banking department and other senior officials from both parties.

The education financing scheme offers low profit rates over a maximum tenor of 3 years to those wishing to attain a higher education degree at local institutions. This scheme provides promising students with the opportunity to achieve their higher education degree at local prestigious institutions that are fully-equipped to prepare the future generation to successfully enter the job market upon graduation and excel in their future career paths.

Commenting on this occasion, Mr. Tariq Mahmood Kazim, General Manager – Business Group of Al Baraka Islamic Bank said: “It gives us great pleasure to be partnering with Royal University for Women as the fourth university on board with our newly launched education financing scheme. We at Al Baraka Islamic Bank remain committed to enabling and empowering the youth of the Kingdom of Bahrain through education by providing them with education financing offers to facilitate the process of enrolling at university and easing the financial burden on both students and their families. We look forward to partnering with more universities within the Kingdom.”

During the event, Professor Yusra Mouzughi, President of Royal University for Women said: “We are pleased to be partnering with Al Baraka Islamic Bank to invest in promising students’ futures by providing them with education financing offers to support them in attaining a higher education degree.”

Prof Mouzughi added that “As part of RUW’s mission in providing quality higher education and contributing to the women empowerment agenda, we are keen to partner with leading institutions in the Kingdom of Bahrain from differing sectors to provide students with an exceptional learning journey at RUW. This partnership with Al Baraka Bank will allow students to benefit from financial solutions while focusing on their academic excellence.”

The Royal University for Women (RUW) is the first private, purpose-built, international university in the Kingdom of Bahrain solely dedicated to educating women. RUW provides a comfortable environment in which to create leaders, develop vibrant personalities, dynamic decision makers, independent thinkers and global citizens. The university focuses mainly on academic excellence and personal development.