Al Baraka Islamic Bank Signs Education Financing Agreement With Applied Science University
Al Baraka Islamic Bank (AIB), has signed an agreement with the Applied Science University to provide education financing for students who wish to enroll at the university.
A signing ceremony was held on Thursday 29th July 2021, at Al Baraka headquarters between both entities, which was attended by Mr. Tariq Kazim General Manager – Business Group of Al Baraka Islamic Bank, and Professor Waheeb Al Khaja, Chairman of the Board of Trustees of Applied Science University, Professor Ghassan Aouad, President of Applied Science University, Mr. Abdulla Al Khaja, Director, Administration and Finance at Applied Science University, along with senior officials from both parties including Ms. Fatema AlAlawi, Head of Retail Banking and Mr. Mohamed Jamali, Section Head - Business Development at Al Baraka Islamic Bank.
This scheme aims to provide promising students with the opportunity to achieve their 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 and excel in their future careers. 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.
Commenting on this occasion, Mr. Tariq Mahmood Kazim, General Manager – Business Group of Al Baraka Islamic Bank said: “We are pleased to be partnering with Applied Science University as the third university on board with our newly launched education financing scheme. We are proud to be at the forefront within the banking industry to be offering such schemes which will help prospective students achieve their educational goals in obtaining a higher education degree. This scheme comes as part of our continuous efforts in supporting students by facilitating the process of attaining a higher education degree at top local institutions within the Kingdom of Bahrain. We look forward to partnering with more universities within the Kingdom.”
During the event, Professor Ghassan Aouad, President of Applied Science University said: “We would like to extend our appreciation and gratitude to Al Baraka Islamic Bank for launching such an initiative that will support the future generation of Bahrain in attaining a higher education degree.”
The Applied Science University is one of the leading private universities in the Kingdom of Bahrain. Since its establishment in 2004, it has been able to occupy an advance rank among universities, and is accredited by the Higher Education Council in the Kingdom of Bahrain. The university continues its quest to be at the forefront of private universities supporting applied education and scientific research within the Kingdom and the Gulf, by providing quality academic programs and creating scientific professional competencies.
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AlBaraka Islamic Bank
Al Baraka Islamic Bank (“AIB” or “the Bank”) is one of leading financial institutions in the Islamic banking sector. Throughout its history of more than three decades (since its establishment in 1984), the Bank has played a prominent role in building the infrastructure of the Islamic finance industry. The Bank also played a significant role in promoting the Islamic finance industry and publicizing its merits. The Bank enjoys a good reputation and high standing with the community in the Kingdom of Bahrain in particular, and in the GCC, Arab and Islamic worlds in general.