Bahrain’s Al Baraka Islamic Bank Signs MoU with Al Mannai Projects For Solar Projects

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With the aim of providing funds to those who wish to purchase solar energy technology solutions from the company Al Baraka Islamic Bank has recently signed a memorandum of understanding (MOU) with Al Mannai Projects.

Mr. Tariq Kazim, General Manager for business group at Al Baraka Islamic Bank, signed the MOU on behalf of the Bank while Mr. Talal Al Mannai, Chief Executive Officer of Al Mannai Projects signed on behalf of Al Mannai.

The Bank intends to provide two financial schemes to the clients;

1) Short term with a maximum of 7 years.

2) Long term with a maximum of 25 years will be linked to the property financing.

Mr Kazim stated that “We are confident about this new service, as solar technology is seeing increasing demand from customers, individuals, developers and companies as a result of its positive impact on the environment, and the encouragement and support that these projects enjoy from the official authorities in Bahrain,”.

Al Mannai Projects is the Exclusive Distributor of GCL System Integration Technology CO., Ltd, and a provider of solutions and products in renewable energy. Al Mannai Projects provides Solar technology solutions for homes, offices, apartment complexes, companies and others.

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