Bahrain: Eskan Bank capital raised to fund new housing schemes

Bahrain: Eskan Bank capital raised to fund new housing schemes

Bahrain - The Cabinet, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, yesterday approved a proposal to increase the paid-up capital of the Eskan Bank to BD250 million to implement new housing financing programmes.

The weekly session at Gudaibiya Palace was discussing a memorandum submitted by the ministerial committee for financial and economic affairs and fiscal balance in this regard.

During the meeting, the Cabinet also discussed several other memorandums, approving the following:

1. A memorandum submitted by the Oil and Environment Minister regarding Bahrain’s National Energy Strategy, which is part of the initiatives under the development of the priority sectors within the kingdom’s Economic Recovery Plan. The strategy is based on four main pillars that aim to strengthen the energy sector and implement efforts to achieve net-zero carbon neutrality.

2. A memorandum submitted by the Housing and Urban Planning Minister regarding the acquisition of real estate for public use to provide spaces for urban development.

3. A memorandum by the ministerial committee for legal and legislative affairs regarding the government’s response to three proposals and two proposed laws submitted by Parliament.

Finally, the Cabinet noted the following ministerial reports:

1. The extraordinary meeting of the Organisation of Islamic