Sakana to launch the 1st GCC mortgage master class
Bahrain-based Sakana Holistic Housing Solutions (a 50:50 joint venture between BBK and Shamil Bank), the innovative Islamic mortgage finance provider, announced today that they will be conducting the 1st GCC Mortgage Master Class, a two-day session, in association with UK based Mungo Dunnett Associates (MDA), a leading mortgage consultancy firm with operations in the UK, Central Europe and the Middle East. The Master Class will be held from 21 - 22 June in the Kingdom of Bahrain.
The 1st GCC Mortgage Master Class will provide regional and international professional knowledge and practice of the mortgage market, tools for managing the recession and mortgage finance specializations in addition to the application of best practice standards in building a sustainable mortgage bank.
Mr. R. Lakshmanan, Chief Executive Officer, Sakana Holistic Housing Solutions, commented: “We are delighted to establish the 1st GCC Mortgage Master Class and share our knowledge and experience with the GCC market. Our decision to approach Mungo Dunnett Associates to co-chair the Master Class stems from their vast experience as a leading mortgage consultancy firm. The programme has been designed to combine regional and international experience and provide delegates with an enhanced knowledge of best practice in this field.”
Mr. R. Lakshmanan added: “This GCC wide initiative is in line with Sakana’s vision of being a catalyst for the prosperity of the housing sector including the mortgage market. Although we are a young but progressive organization we have been internationally recognised on a regional level and we pride ourselves as being a Bahraini organisation operating out of the region’s hub for banking and finance”.
The two day Master Class is expected to bring delegates from around the region.
Mr. Mungo Dunnett, Chairman Mungo Dunnett Associates, said: “It is our pleasure to be associated with Sakana Holistic Housing Solutions. As the current economic climate continues to be the most strategically challenging period that many of us have experienced, it also continues to provide a rich source of material for the 1st GCC Mortgage Master Class.”
Mr. Dunnett is a leading industry commentator who runs “The Mortgage Lenders’ Forum”, a leading ‘best practice’ group for mortgage lenders in Europe. He also speaks at numerous international conferences, and specialises in introducing ‘expert practitioner’ knowledge to banking operations requiring rapid development and revenue generation.
Sakana’s contribution to innovation and development within the Islamic mortgage finance sector was recognised when it received the accolade of “Best Islamic Mortgage Provider of the Middle East”, at the International Real Estate Finance Summit 2008 held on 16-17 December in London.
