Nayef Khalifa Al Thawadi, Assistant Undersecretary for Courts Affairs and Enforecements at the Ministry of Justice, Islamic Affairs and Waqf, met with representatives from the National Bank of Bahrain, Bahrain Islamic Bank, and Khaleeji Commercial Bank.

The meeting reviewed the mechanism for the sale of real estate through public auctions, in coordination with the Supreme Judicial Council, as part of efforts to familiarise stakeholders with the updated procedures adopted in this regard.

Al Thawadi noted that the regulation of credit provision by banks to beneficiaries through enforcement and auction procedures has played an active role in accelerating the pace of real estate sales and purchases.

He emphasised the important role that banks play in financing real estate transactions conducted via public auction, considering it a key pillar of one of the most prominent aspects of commercial activity, and highlighting its significance in ensuring financial commitments and safeguarding the rights of all parties involved.