Lead in providing innovative and sustainable housing solutions
• Build a strategic alliance with the Ministry of Housing and government bodies towards achieving the overall housing sector objectives of the Government of Bahrain
• Develop innovative and effective frameworks of partnerships with the private sector for funding social housing beneficiaries and enhancing the supply of housing units
• Lead in benchmarking socio-economic and environmentally sustainable housing developments
• Enhance the welfare and empower the Bank’s human capital towards realizing its full potential
Eskan Bank was established in 1979 with a unique social role to provide mortgages for citizens of the Kingdom of Bahrain on low-to-medium incomes, and also to engage in community- related property development activities.
Eskan Bank is the Kingdom’s leading provider of residential mortgages, and a significant player in the property development market. Since inception, the Bank has provided mortgages totalling BD 772,8 million benefiting 54,452 Bahraini families. Eskan Bank’s property development and investment activities embrace real estate investment, construction and property management; as well as finance for the construction of social and affordable homes, Community Projects and commercial projects.
As the Bank’s property development arm, its subsidiary, Eskan Properties Company (EPC), develops social, affordable, community and commercial projects in partnership with the private sector and the Government.
Through its associate companies, Eskan Bank seeks to expand its social and community role. Ebdaa Bank provides micro-financing for low-to-middle income Bahraini families to help them start their own businesses and become financially independent; while Naseej B.S.C. (c) acts as a catalyst in addressing the need for social and affordable housing in the Kingdom, and enabling more Bahrainis on middle incomes to afford home ownership.
The Bank strongly believes in the importance of the private sector’s active involvement in addressing the Kingdom’s housing needs. In this respect, the Bank has structured innovative financial packages to attract private sector participation. It has also established partnerships with property developers and landlords, to construct social and affordable housing units.
Eskan Bank has implemented a five-year strategy which significantly strengthens the scope of the Bank’s activities to support the social agenda of Bahrain’s Economic Vision 2030. In particular, it defines the Bank’s role to assist the Ministry of Housing in achieving the Government’s commitment to significantly reduce the backlog of housing applications by Bahraini families on low-to-medium incomes. This is being achieved by accelerating the construction of social housing units in partnership with the private sector.
Wholly-owned by the Government of Bahrain, and with an authorised share capital of BD 400 million and paid-up capital of BD 108.3 million, Eskan Bank operates under a restricted conventional retail banking license issued and regulated by the Central Bank of Bahrain. At the end of 2015, total assets of the Bank stood at BD 597.3 million.
Eskan Bank, with its many initiatives continuing to gather pace and interest in the affordable housing sector reaching new heights. This has been achieved through the development of closer working relationships with the Ministry of Housing and the private sector through a focus on building cohesive communities. These relationships have allowed Eskan Bank to continue its pivotal role in Bahrain’s national ambition to provide homes to all on the government housing list, as envisioned by His Majesty King Hamad bin Isa Al Khalifa.
Services – Business
Organization Goals & Objectives
The organization is led by his Excellency Minister of Housing, Engineer Basim Bin Yacoob Al Hamar, Chairman, with team of highly experienced members from public and private sectors.
Dr. Khalid Abdulla, General Manager of Eskan Bank since May 2013. Obtained his MA in Economic Development from the University of East Anglia, UK, in 1986 and his PhD in Economics from Exeter University, UK, in 1991. Started his professional career in the academic field at the University of Bahrain (1980-2000) and then accumulated a banking experience until present.
The Bank employs 186. Out if which 44 in a position of Manager and above.