BBK, Bahrain's pioneer in retail and commercial banking, announced today that it will be offering loans with lenient repayment terms to purchase solar panels, in cooperation with a number of accredited local Bahraini suppliers, at competitive rates.
This initiative comes in line with the Bank's social responsibility strategy that focuses on the Environment in the Kingdom of Bahrain, and in support of the national efforts to preserve and enhance the energy efficiency and increase the shift to renewable energy sources, and its commitment to support the sustainable development goals, with special emphasis on the 7th goal "clean energy at affordable prices" and the 13th goal "climate action".
The new BBK "Solar Panel" loan comes with special benefits, including fast approvals, waived bank fees, competitive interest rates, flexible repayment terms and a repayment period of up to seven years.
BBK's Group Chief Executive Dr. AbdulRahman Saif extended his appreciation towards his excellency Dr. Abdul Hussain Bin Ali Mirza, President of the Sustainable Energy Authority in the Kingdom of Bahrain for the efforts in ensuring the stewardship of the Kingdom's sustainable energy future through best practices while maintaining the highest of standards. He commented on the launch saying: "the Solar Panel Loan is derived from the Bank's sustainability framework under which the preservation of the environment constitutes one of its main pillars alongside social responsibility and governance. He added that this new loan is one of the Bank's many initiatives to support environmental issues in the Kingdom, thus contributing to achieving a balance between the requirements of the country's urban development on one hand, and the protection and preservation of the environment for future generations on the other hand".
Dr. Saif also stated that this loan was designed to suit the various needs of customers. He also stressed on the Bank's enthusiasm in providing the means to embrace alternative energy sources which contribute to rationalizing consumption and adopting the concepts of a green economy. He encouraged all individuals and institutions in the Kingdom of Bahrain to take advantage of the BBK "Solar Panel Loan" and all the benefits it procures.