BBK, Bahrain’s pioneer in retail and commercial banking, has announced the launch of a special facility which allows retail customers aiming to save energy and to reduce their bills to switch partially or entirely from conventional energy sources to renewable energy sources in their homes or any of their premises.
This facility aims to assist customers in rationalizing consumption whilst protecting the environment, which falls within the scope of the Bank’s commitment towards supporting the Kingdom’s general policies and initiatives in boosting energy efficiency and transitioning towards the use of alternative energy.
BBK offers “Sustainability Financing” with several features and benefits, including easy application and speedy approval process, flexible loan repayment terms of up to seven years, competitive interest rates with no bank fees, and approval within 24 hours. The financing can be obtained by existing and potential customers of BBK through any of the Bank’s branches.
Dr. Adel Salem, General Manager of Retail Banking at BBK commented: “Our team has specifically designed this facility to meet the needs of our valued retail customers who wish to shift towards renewable and sustainable energy sources through the purchase of solar panels and energy-saving equipment that also protects the environment.”
“This financing supports individuals who want to use different energy-saving technology in their houses, such as cooling, waste-to-energy, sustainable green buildings, and eco-friendly operations that contribute to a more sustainable alternative,” said Dr. Adel.
In this context, Dr. Salem stressed the Bank’s keenness to monitor key developments in the sustainable energy sector through the adoption of a sustainable approach in all its operations, which has made it a priority for BBK to be at the forefront in supporting environmental and climate change issues at the local, regional and global levels.
Dr. Adel concluded: “The sustainability financing facility fits within the framework of the Bank’s social responsibility towards society and the environment in the Kingdom of Bahrain, as well as its dedication to support the Sustainable Development Goals, particularly the seventh goal, which calls for “clean and affordable energy,” and the thirteenth goal, “Climate action.” It also aligns with the Kingdom of Bahrain’s efforts to protect the environment and reduce carbon emissions and pollution by increasing the use of renewable energy.”