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Sakana Holistic Housing Solutions was warded Best Islamic Mortgage Provider of the Middle East at the International Real Estate Finance Summit 2008 held in London recently. Sakana is an innovative Islamic mortgage provider which is a a 50:50 joint venture between BBK and Shamil Bank.
The summit, which was attended by over 150 professionals from around the world, highlighted the potential synergy that exists between the GCC and UK, despite the current economic climate. While the global real estate sector and conventional banking face extremely challenging times, delegates heard that the GCC and Islamic mortgage finance, in particular, offer opportunities for sustainable real estate sector growth.
Sakana chief executive R Lakshmanan, who accepted the award, delivered a well-received presentation on the GCC real estate sector to the summit. He said: "This award reflects the unstinting efforts of our dedicated team, our focus on innovation, simplicity and a holistic approach to real estate solutions. As one of the first stand-alone Islamic mortgage providers in Bahrain, we have successfully introduced new concepts to a market that had little previous exposure to mortgages. This has allowed many more people to aspire to home ownership."
