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KHCB Signs a Financing Agreement for Al Salam Hospital

Khaleeji Commercial Bank, one of the leading Islamic Banks in the kingdom of Bahrain, announced the signing of a new corporate financing deal for the construction of a new specialist hospital in Bahrain.

The signing took place at Orthocare and it was attended by the Chief Executive Officer of Khaleeji Commercial Bank, Mr. Khalil Ismaeel Al Meer, the Bank’s Corporate Banking team, and the hospital shareholders Dr. Jamal Saleh and Dr. Abdul Majeed Al Awadhi.

The financing amount provided by Khaleeji Commercial Bank will be Seven Million Bahraini Dinars which will be utilized to finance the construction and equipping of the new hospital located in Riffa’a, stands as a positive opportunity for KHCB as it provides a chance for the bank to play a pivotal role in raising the bar when it comes to healthcare services in the Kingdom of Bahrain. The Al Salam Specialist Hospital is set to provide healthcare services of the highest quality spanning across multiple specialties through a team of highly experienced and renowned local and international doctors.

On this occasion Mr. Khalil Ismaeel Al Meer, CEO of KHCB said: “The opportunity to finance the construction of Al Salam Specialist Hospital gives us immense pleasure as the medical sector is the noblest of sectors in a nation and to be a part of this honorable venture shows our commitment towards the Kingdom of Bahrain. The concept of entering into this partnership for the construction of the specialist hospital stems from the vision adopted by the Bank to support private sector businesses to enable them to become a fundamental stimulator to the economic development front in the long run and for the impact Al Salam Specialist Hospital would have on raising the standard of healthcare in the Kingdom.”

The financing of the construction of Al Salam Specialist Hospital is not the first foray that KHCB has taken into the private sector in Bahrain with the Bank having previously ventured into a number of significant deals with other private sector establishments as an effort to contribute to the economy of Bahrain.

From his side, shareholder and Chairman of Al Salam Specialist Hospital, Dr. Jamal Saleh, said: “KHCB was our preferred choice when it came to financing the construction of Al Salam Specialist Hospital due to its long and distinguished history of previous projects financed that proves its undeterred support to initiatives in the private sector. We are proud to be working with KHCB on this project due to the generosity of its actions, proven through the considerably large financing amount handed to us, and their selfless nature, that is shown in the various investments and projects undertaken by the Bank. Dr Jamal Saleh also thanked their Financial Consultants Dun and Bradstreet, Bahrain for their support in the Project Financing.

Al Salam Specialist Hospital aims to set the standards so high that it sends out a competitive intent to the other hospitals and medical centers in the Kingdom of Bahrain, thereby kindling a race among them to rise to the top of the medical sector and, consequently, providing the best of services to the public. With our intent of establishing Al Salam Specialist Hospital as one of the most premier hospitals in the country and the Middle East, we also aim for it to be a major participant in making Bahrain into the regional center for medical tourism. ”