BizBahrain April 2016

Government
Nogaholding Signs
US$570 Million Boost
Shaikh Mohamed bin Khalifa Al Khalifa
CEO, Nogaholding
Nogaholding, the investment and
business development arm of
Bahrain’s National Oil and Gas Authority
(NOGA) announced it has signed a five
year US$570 million multi-bank Murabaha
facility to support investment into a
number of large scale oil and gas projects
within the Kingdom of Bahrain.
The $570 million sharia-compliant,
five year financing is the first foray for
nogaholding into the syndicated credit
markets, and marks the beginning of a
Women empowerment
contributes to economy
Dr. Ebrahim Janahi
Chief Executive, Tamkeen
Tamkeen Chief Executive, Dr. Ebrahim
Janahi affirmed that a key part of
Tamkeen’s strategy and work comes
within the framework of having access
to the entrepreneurs and introducing
them to Tamkeen’s services and provide
their services, support, training and
guidance for them so as to promote
women’s presence in the private sector.
Economists and media figures stressed
the need to promote women’s economic
empowerment programmes in order
number of strategically important growth
projects for nogaholding and Bahrain’s
energy industry.
The facility size was increased by 60%
due to investor demand and the book was
significantly oversubscribed.
The syndicated facility consists of the
following ten international, regional and
local banks: Arab Banking Corporation
(ABC), Ahli United Bank (AUB), Arab
Petroleum Investments Corporation
(APICORP), Gulf International Bank (GIB),
and National Bank of Bahrain (NBB), Qatar
Islamic Bank (QIB), Kuwait Finance House
(KFH), The Bank of Tokyo-Mitsubishi UFJ
(MUFG), BNP Paribas, and HSBC.
The facility will enable nogaholding
to invest in three key developments: the
BAPCO Modernisation Programme, the
LNG Import Terminal, and the Bahrain Gas
Plant Project (part of Bahrain National Gas
Expansion Company).
Shaikh Mohamed bin Khalifa Al
Khalifa, CEO of nogaholding said, “This
is an investment for the future and
highlights our continued efforts to
grow the Kingdom of Bahrain’s oil and
gas assets and position our nation as a
significant regional and international
player.”
to face the economic and financial
challenges.
Dr. Janahi highlighted a number
of projects carried out by Tamkeen in
partnership with the Supreme Council
for Women (SCW) to support women
economically, including a Memorandum
of Understanding (MoU) between the SCW,
Tamkeen and Bahrain Development Bank
(BDB) regarding the launch of Bahraini
Women Development Portfolio Fund worth
a total of $100 million.
Bahraini Media Figure Sawsan Al-
Shaer highlighted the SCW’s role under the
leadership of Her Royal Highness Princess
Sabeeka bint Ibrahim Al Khalifa, Wife of
His Majesty the King and President of
the Supreme Council for Women (SCW) at
adopting an integrated economic system
as a part of the National Strategy for the
Advancement of Bahraini Women, that
support women economically in Bahrain,
like Tamkeen, BDB, Creativity Microfinance
Bank, Economic Development Board (EDB)
and Bahrain Chamber of Commerce and
Industry (BCCI).
INJAZ Bahrain
launches Young CEOs
Programme
Shaikha Hessa Bint Khalifa Al Khalifa
INJAZ Bahrain
In keeping with its long-term vision to
enhance and leverage on the Company
Program to make it one of our most sought
out programs for schools and universities,
INJAZ Bahrain has newly introduced the
”Young CEO’s Programme.”
The program gives the student CEO’s
of the Company Program the opportunity
to network with top executives from
diverse backgrounds, industries
and countries, gain valuable market
knowledge and develop understanding
of the roles and responsibilities of top
executives represented by the INJAZ
Board Members to pave the way for
these youngsters to become successful
leaders of the future. INJAZ Al-Arab and
INJAZ Bahrain will hold this year’s Young
Entrepreneurs Competition in Manama
during the last week of Novembe 2016.
INJAZ Bahrain Company programme,
comprised of business, entrepreneurship
and economics lessons for students aged
16-22 in high schools and universities.
Students identify a market
opportunity, develop a product, conduct
a feasibility study and raise capital by
selling stock.
Each studet company elects its own
managers and must work as a team to
successfully develop, market and sell their
product or service.
By 2020, between 80 and 100 million
jobs must be created in the Middle East
and North Africa (MENA) just to maintain
current unemployment rates. INJAZ
Bahrain promotes entrepreneurship
education training in the Kingdom of
Bahrain, working with the Ministry of
Education.
May 2016
57