BizBahrain November 2016

Highlights | Banking & Finance
Pensions Conference
Held in Bahrain
Ebrahim K. Ebrahim
Chief Government Business and
Communications Officer, TAKAUD’s
TAKAUD, the specialist provider of
savings and pension solutions for the
MENA region, with almost 250 registered
delegates to date, built momentum for
the Middle East and North Africa “MENA”
Pensions Conference, in October.
The Conference bought together,
for the first time, private and public
sector representatives, regional and
global institutions and leading employee
benefits consultants to discuss how the
Bahrain Commercial Bank
closes new Loan Facility
Bahrain Commercial Facilities
Company B.S.C., successfully
closed a US$80 million 5-year term
loan facility (“Facility”). The facility
was arranged by Ahli United Bank
B.S.C. (“AUB”), Bank ABC (“ABC”) and
BNP Paribas in their capacity as Initial
Mandated Lead Arrangers (“IMLA”).
The purpose of the new Facility, which
was signed on 22nd September 2016, is
region can reflect global practices in
pension schemes for citizens and expat
workers. It was held under the patronage
of the Central Bank of Bahrain and
took place at the Four Seasons Hotel in
Manama, Bahrain on October 18, 2016.
“The support we have received has
been overwhelming,” said Ebrahim K.
Ebrahim, TAKAUD’s Chief Government
Business and Communications Officer,
and the leader of the Conference
initiative. “We are most grateful for the
high level commitment demonstrated for
the Conference and its important goals.”
The Conference drew prominent
speakers, including representatives of
international organisations such as the
World Bank, the OECD (Organisation for
Economic Cooperation and Development)
and the World Pension Council. Public
pension entities from Bahrain, the
Kingdom of Saudi Arabia, Egypt and
Morocco provided their perspective
to the audience of distinguished and
expert delegates. Delegates from across
the region were joined by international
delegates from the countries of Albania,
Mongolia, Nigeria and Namibia.
Official Conference partners include
the Economic Development Board,
Bahrain Bourse, the SIO (Social Insurance
Organisation) and other national
institutions.
to fund continued growth in the BCFC
lending portfolio and for their other
general business needs..
A celebratory lunch was held on
the 5th October 2016, attended by the
senior representatives of BCFC and the
participating banks.
At the lunch, Chief Executive Officer
of BCFC, Dr. Adel Hubail, thanked
all the participating banks for their
support in successfully closing this
syndication. He said: “The successful
closing of this Facility in a volatile and
financially distressed market reflects
BCFC’s strong financial standing, its
solid business model, prudent risk
management and overall growth
strategy adopted by the Company.”
The IMLAs expressed their
delight with the successful closure
of the transaction and wished BCFC
continued growth and prosperity in the
future.
BIBF Academy and Master
Card collaborate
Bahrain Institute of Banking &
Finance BIBF’s Payments Academy
announced a first time collaboration with
MasterCard in October.
The BIBF is the training arm of the
Central Bank of Bahrain and the region’s
premier training and development
provider, recognized for the value, thought
leadership and quality of its programs.
As part of the collaboration with
BIBF’s Payments Academy, Mastercard
Academy Middle East and Africa (MEA)
will develop an engaging academic and
training module designed to enhance
technical performance and leadership
qualities for professionals in the financial
sector.
Speaking about the program, Mr.
Raghav Prasad, General Manager for
Gulf Countries, Mastercard, said: “We
are excited to see our shared efforts
in honing intellectual and technical
capabilities in Bahrain improve customer
satisfaction and effectiveness of financial
services. The collaboration will emerge
as an important component in countries
looking to boost education and build a
knowledge-based economy.”
The BIBF’s head of Banking and
Accounting, Mr. Deen Jayah also stated,
“The Academy is an initiative taken by
the BIBF to fill a gap that prevailed in
the financial services to upskill staff
talent within the payments sector. This
initiative would introduce latest industryrelated
training courses that will not only
be used to train existing staff but bring
new talent from Bahrain and the GCC
region to the payment sector, giving them
new career opportunities in the process.”
BIBF currently offers over 300
different courses to the financial and
corporate market, and enrolls close to
20,000 trainees annually.
56 November 2016