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Al Baraka Islamic Bank signs education financing agreement with the American University of Bahrain (AUBH)

November 1, 2021
islamic finance

Al Baraka Islamic Bank (AIB), has signed an education financing agreement with the American University of Bahrain (AUBH) to provide financing for students interested in enrolling at the University.

The ceremony was held on Sunday the 19th of September at Al Baraka’s headquarters, with the attendance of Ms. Fatema AlAlawi, Head of Retail Banking at Al Baraka Islamic Bank, and Ms. Shayma Abulfatih, AUBH Director of Finance and Ms. Nosaybah Maher, AUBH Assistant Manager of Finance, along with senior officials from both parties.

The education financing scheme aims to facilitate the process of achieving a higher education degree for promising students who wish to enroll at local universities. The financing scheme offers low profit rates over a maximum tenor of 3 years to those interested in attaining a higher education degree at local educational institutions that are fully-equipped to prepare the future generation with the necessary skills required to enter the job market.

Commenting on this occasion, Ms. Fatema AlAlawi, Head of Retail Banking at Al Baraka Islamic Bank said: “As part of our ongoing efforts in supporting the youth of Bahrain by launching the education financing scheme, we are proud to be partnering with the American University of Bahrain, among other universities within the Kingdom, to provide its students with the chance to enroll at the university. Through this scheme we aim to support promising students in attaining a higher education degree while alleviating their financial burdens. We look forward to partnering with more universities within the Kingdom.”

During the event, Ms. Shayma Abulfatih, Director of Finance at American University of Bahrain said: “It gives us great pleasure to be partnering with Al Baraka Islamic Bank on this exceptional financing scheme, as it presents our students with an alternative financing option in line with our Mission at AUBH.”

AUBH is the first comprehensive, purpose-built, American-style co-educational university in the Kingdom of Bahrain, and is supported through the Elm Fund, the University offers a holistic journey for students and unique approach to education that fosters interaction and collaboration between students, faculty and the professional community.

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