BAB prepares to hold its annual reception in DC

Manama, Aug. 9 (BNA): Bahrain Association of Banks (BAB) said it has begun its preparations to hold the annual reception for Bahraini banks on October 14 in Washington, District of Columbia, USA. The event will be organised on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group. A high-profile Bahraini delegation comprising leaders of the financial and banking sector from the public and private sectors, led by the Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa and the Governor of the Central Bank of Bahrain (CBB) Rasheed Al-Maraj will attend the reception. Guests also include central banks’ governors, finance and development ministers, senior private sector officials, academics, managers of sovereign wealth funds, assets and hedge funds and senior officials of insurance and multi-national companies. Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahrain Association of Banks, said that the reception ceremony aimed mainly to shed light on the financial services sector in the Kingdom of Bahrain, and highlight the available investment opportunities to attract more international financial institutions to take Bahrain as a centre for their expansion plans. He added that BAB had launched a wide-scale promotional campaign on the occasion of the annual meetings of the International Monetary Fund and the World Bank Group in a bid to attract more investments to the financial sector in the kingdom. The campaign aims promote the investment incentives in Bahrain, in line with the government’s policies to attract more regional and international investments into the country, Adnan also said, extending thanks to BAB members for their great support and keenness to assist BAB in going ahead with its efforts to implement the strategy devised by its Board of Directors. He took pride in BAB's keenness to assume its responsibilities towards ensuring the success of the Annual Meetings of the International Monetary Fund and the World Bank Group, as well as in contributing to the efforts exerted by the organisers in this regard. He stressed the importance of the annual IMF and the World Bank Group meetings.