2011 Annual Report - Khaleeji Commercial Bank BSC

403 Auto Financing Leaflet A5 A&E V4.pdf 2 11/10/11 5:06 PM
KHALEEJI COMMERCIAL BANK BSC
Our hassle free auto financing scheme
underscores the Bank’s commitment to
provide the people of Bahrain with Islamic and
transparent financing solutions.
project in Bahrain has been completed
and some villas have already been
handed over to buyers. However,
sale of the unsold villas continues
to be a major challenge. Projects in
which the Bank has partnered with
other prominent Bahraini financial
institutions, including Safana and
North Gate, have incurred delays
due to their scale and complexity. The
investment team is actively working
with the partners for expediting the
project development and exit.
The prospects for the Bank’s large
investment products in India, Global
Logistix Navi Mumbai and Danat India,
New Delhi continued to be good
with positive valuation fundamentals
continuing during 2011. Considerable
progress has been achieved on both
of these projects and the Bank’s
investment team is actively working
with local partners and advisers to
develop the projects further.
Jawhara Greens, the multi-use
development project in Qatar, while
delayed, has now started infrastructure
development and pre sales activity.
The project has gone against the trend
of reduced valuations for GCC real
estate assets and reported a valuation
increase for the 2011 calendar year.
Overall, the investment banking
division will maintain a focus on
achieving investor exits in 2012.
Organizational
Development
During 2011, the Bank continued to
strengthen institutional capacity in line
with the growth in size and scope of
the business. Attracting, developing
and retaining talented professionals to
build a high performance, committed
team is a key goal. Management
believe that ensuring a continuous
learning environment is synonymous
to achieving this goal and have invested
in training programs to ensure all
employees are up to date with
changes in the market that directly
relate to their area of specialization.
The bank continues to invest in
employee development through
training programs both internal and
external using many service providers.
In 2011 these included specialized
sales training programs for our branch
staff and introduction to Basel III for
senior management, risk management
and financial control staff. Beyond the
development of employees, the Bank
continued to support the youth of
the country by providing short term
training opportunities for university
students. KHCB is also a major
supporter of the Waqf fund’s training
program.
The Bank enhanced its operational
systems and applications, including its
core banking system, moving forward
substantially in replacing middleware
with an advanced IBM platform,
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Annual Report 2011