BAB to hold annual reception

Manama, Sept. 4 (BNA): Bahrain Association of Banks (BAB) said its preparations continue to hold the annual reception for Bahraini banks. CEO of Bahrain Association of Banks, Dr. Waheed Al-Qassim, stressed the importance of permanent support given to BAB by its members, particularly the members who have given their support to the "annual reception for Bahraini banks": Central Bank of Bahrain, Ahli United Bank, Investcorp, Bank of Bahrain and Kuwait, Bahrain Islamic Bank, Bank ABC and United Gulf Bank. Dr. Al-Qassim, said that the reception on October 8 in Washington, DC, mainly aims 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 is within the efforts to promote the investment incentives in Bahrain, in line with the government’s policies to woo more regional and international investments into the country, Dr. Al-Qassim explained, extending thanks to BAB members in Washington 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 affirmed BAB’s keenness to ensure 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. The event will be organised on the sidelines of the annual meetings of the International Monetary Fund 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, BAB chairman Abdul Razzak A.Hassan Al Qassim, 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. It is worth noting that about 10,000 participants including delegations of the World Bank, representatives of media outlets, special guests from private sector companies, the financial sector circles and NGOs. In addition, experts of the World Bank Group and the International Monetary Fund take part in meetings with officials from the delegations of participating countries.