Bahrain-based Sakana Holistic Housing Solutions, an Islamic mortgage finance provider, will organise the first GCC Mortgage Master Class, a two-day session, in association with Mungo Dunnett Associates (MDA) based in UK.

The Master Class, to be held from June 21 to 22 in Bahrain, will provide regional and international professional knowledge and practice of the mortgage market, tools for managing the recession and mortgage finance specializations in addition to the application of best practice standards in building a sustainable mortgage bank.

R Lakshmanan, chief executive officer, Sakana Holistic Housing Solutions, commented: "We are delighted to establish the 1st GCC Mortgage Master Class and share our knowledge and experience with the GCC market."

"Our decision to approach Mungo Dunnett Associates to co-chair the Master Class stems from their vast experience as a leading mortgage consultancy firm. The programme has been designed to combine regional and international experience and provide delegates with an enhanced knowledge of best practice in this field."

A leading mortgage consultancy firm, MDA, has operations in the UK, Central Europe and the Middle East.

According to Lakshmanan, the GCC-wide initiative was in line with Sakana’s vision of being a catalyst for the prosperity of the housing sector including the mortgage market.

"Although we are a young but progressive organization we have been internationally recognised on a regional level and we pride ourselves as being a Bahraini organisation operating out of the region’s hub for banking and finance," he noted.

Mungo Dunnett, chairman Mungo Dunnett Associates, said: "It is our pleasure to be associated with Sakana Holistic Housing Solutions."

"As the current economic climate continues to be the most strategically challenging period that many of us have experienced, it also continues to provide a rich source of material for the 1st GCC Mortgage Master Class," he added.

Dunnett is a leading industry commentator who runs “The Mortgage Lenders’ Forum”, a leading ‘best practice’ group for mortgage lenders in Europe.

He also speaks at numerous international conferences, and specialises in introducing ‘expert practitioner’ knowledge to banking operations requiring rapid development and revenue generation.

Sakana’s contribution to innovation and development within the Islamic mortgage finance sector was recognised when it received the “Best Islamic Mortgage Provider of the Middle East”, award at the International Real Estate Finance Summit 2008 in London.-TradeArabia News Service