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Thursday, November 12 - 2009

Sakana offers Bahrain's fastest ever mortgage turnaround

Sakana Holistic Housing Solutions has announced it is celebrating the Formula 1 with a special super-fast track approval scheme for mortgages, promising to turn home finance applications around in just one day (24 hours).

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The innovative promotion is the first, and fastest mortgage application scheme ever introduced in the Kingdom, and will run from today, Wednesday 11th April to Tuesday 17th April.

Applications for Sakana mortgage finance can be made at the company's new stand in the Seef mall which opens today. Sakana's advisors can be consulted for mortgage advice on the stand which is staffed from 10am to 10pm every day until 17th April. Advice can also be obtained from Sakana's Customer Centres in Manama and the BBK Financial Mall in Budaiya.

Sakana's Chief Executive Officer, Mr R. Lakshmanan said: "Formula 1 is a great national event that is generating a huge amount of excitement across the Kingdom. We at Sakana would like to support the event by offering a special service that reflects the spirit of speed that is symbolized by the F1."

"The F1 represents some of the many exciting new developments that are combining to enhance the appeal of investing in Bahrain, and Sakana can help to make that investment decision a reality."

Applicants for Sakana's 24-mortgage approval scheme should provide a copy of their passport, CPR, salary certificate or slip together with bank statements from the last six months. The 24-hour turn-around service is available for salaried residents in Bahrain of all nationalities with finance available.

Sakana provides financing up to 90% for residents in Bahrain and up to 70% financing for non-residents for 30 and 20 years respectively.
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Notes and media contacts

Customers requiring further information about Sakana or wishing to download an application form can log on to the website.

About Sakana Holistic Housing Solutions
Sakana Holistic Housing Solutions BSC © extends a unique range of Sharia'a-compliant products and services that enable and ease the process of home ownership in the Kingdom of Bahrain. The company offers a unique mortgage financing model as well as access to a network of partners offering housing-related services such as architects and real estate companies.

Underpinned by values of spirituality, Sakana works in partnership with its customers and its value networks to create quality and innovative housing solutions that are customized to address specific and market needs.

Sakana is a 50:50 joint venture between BBK (formerly Bank of Bahrain and Kuwait) and Shamil Bank. The Board of Sakana Holistic Housing Solutions comprises five members with two representatives each from Shamil Bank and BBK and one independent director.

Issued on behalf of Sakana by Hill & Knowlton.

For press information contact:
Lorna Damiani
Hill & Knowlton
Tel: +973 17 53 35 32
Fax: +973 17 53 33 70

Haya Khalil
Sakana Holistic Housing Solutions BSC ©
Tel: +973 17 20 19 37
Fax: +973 17 21 46 63

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