Kuwait Finance House – Bahrain (KFH), a leading bank in the kingdom, has announced that it is allowing individual and corporate customers to defer domestic loan instalments and credit card payments for three months.

This initiative aligns with the Central Bank of Bahrain's directive within the framework of its commitment to maintaining the robustness of the banking sector and its continued contribution to economic development plans, while supporting national efforts to bolster the economy and enhance financial stability during these challenging times.

The option, effective April 19, applies to a range of financing products including personal, real estate, auto and corporate loans, as well as credit cards, the bank said in a statement.

This key gesture provides customers with greater flexibility in managing their obligations by easing financial pressure and allowing them to adjust their priorities during this period, it stated.

KFH said customers can apply for the deferral through its mobile application and online banking platform, while corporate clients can submit requests via its business digital platform or through relationship managers.

The move is part of broader efforts to support economic stability and ease financial pressures on customers, said KFH-Bahrain in its statement.

Group CEO Shadi Zahran said the initiative aligns with directives issued by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, to support the national economy, including measures to defer instalments and provide liquidity.

The bank has begun implementing the programme through its digital channels to ensure swift access and execution, aiming to support customers and maintain confidence in the banking sector.

These directives reflect a progressive economic vision supported by His Majesty King Hamad bin Isa Al Khalifa, designed to strengthen national economic resilience and foster sustainable growth, he added. 

With regard to its corporate customers, the bank said they can apply for instalment deferral requests through the business digital platform, by contacting their relationship manager directly, or by submitting a request under the name of the relationship manager at the nearest KFH business centre.