Bahrain

Bahrain: CBB Reaches Agreement With Banks To Cancel Interest Rate Hike On Real Estate Loans

The Central Bank of Bahrain (CBB) has reached an agreement with the relevant banks to cancel their plans to raise interest rates on some real estate loans for the beneficiaries of the housing programmes and schemes, as well as keep the rates agreed upon previously with the borrowers.

The move is in line with CBB’s commitment to playing its role in serving the banking sector and those dealing with it.

It is also the outcome of the constructive and constant cooperation between the executive and legislative authorities, as well as that of the recent joint parliamentary meeting held with the Central Bank of Bahrain and the Ministry of Housing and Urban Planning devoted to discussing some citizens’ complaints about banks’ hike of interest rates on private real estate loans for the housing services’ beneficiaries.

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BNA

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