BizBahrain November 2016

Banking & Finance
Batelco Supports BAB
Batelco, a Bahrain telecom company,
supported BAB (Bahrain Association
of Banks) at the Annual Meetings of the
IMF (International Monetary Fund) and
Islamic Finance’s
Role to be highlighted in
International Conference
The World's longest running Islamic
finance event is set to gather
industry pioneers and leaders to
discuss the role of Islamic banking
in contributing significantly to the
economic stabilization of nations across
the globe. Supported by the Central Bank
of Bahrain, the event will take placed
on the 5-7 December at the Gulf Hotel in
Bahrain and will touch upon the recent
developments and economic conditions
of regions across the European
continent.
Islamic finance is set to manage
assets of $6.5 trillion globally by 2020.
(WBG) World Bank Group, which took
place in Washington DC, USA, from 7 to 9
October.
The Annual Meetings of the IMF
and WBG bought together Ministers
of Finance and Development, Central
Banks, financial sector executives and
academics, to discuss issues of global
concern, including the world economic
outlook and economic development, with
about 10,000 people attending over the
course of the event.
Mrs. Al Hashemi said that Batelco
was very pleased to support Bahrain
Association of Banks’ efforts to highlight
Bahrain’s world-class banking sector at
The growth of these assets is not
predominantly restricted to emerging
markets, but has also become attractive
to conventional entities. Â In particular,
European investors, have watched
the development of Islamic finance
in Muslim countries, such as the
Gulf Region and Malaysia, and have
recognized the benefits of using Islamic
financial services as a great source of
funding for investment projects as well
the Annual Meetings in Washington.“The
banking sector in Bahrain has gone from
strength to strength and is recognized
as a significant hub within the Middle
East region,” she said, “ Their ongoing
commitment to excellence has benefited
the economy as a whole and has
attracted many international businesses
to Bahrain.”
Over many years, Batelco has
played a pivotal role in the country’s
development as a major communications
hub and today is the leading digital
communications’ provider, continuing to
lead and shape the local consumer and
enterprise markets.
as perceiving it as a means to salvage
the economy from financial crisis.
With the changing economic
conditions in Europe due to the financial
crisis and political vicissitudes - as
seen in the recent case of the highly
debated Brexit decision for Great
Britain - the role of Islamic finance
has become more pronounced with its
widespread recognition and potential to
contribute significantly to the economic
stabilization of the continent.
Islamic finance has a robust
model underpinned by principles of
risk aversion and deleveraging. The
liquidity available in the industry along
with these elements can further help
strengthen economic foundations and
diversify investment sources for Europe.
Al Salam Bank hosts
Breast Cancer Awareness
Session
Al Salam Bank-Bahrain, one of the
pioneering Shari’a-compliant banks
in the Kingdom of Bahrain, recently
organized an awareness session for its
female staff delivered by Dr. Ann Sabah
Bahiyah - Obstetrics/Gynaecology from
Middle-east Medical Hospital to increase
awareness of the disease and educate the
importance of early detection.
Breast Cancer awareness month is
an annual international health campaign
organized by major breast cancer charities
around the world every October that serves
as a prime opportunity to remind women
to be breast aware for earlier detection.
On behalf of Al Salam Bank-Bahrain,
Muna Al Balooshi, Group Head of Human
Resources & Administration said, “Breast
cancer is among the foremost health
threats to women in the region and
worldwide. As a locally conscious Islamic
Bank, we believe it is imperative to
acknowledge and educate people on breast
cancer as well as raise awareness in our
community that early detection helps to
saves lives.”
We appreciate the time devoted by all
the members, volunteers and supporters
to this cause in raising the awareness
levels of breast cancer within Bahrain, she
further added.
58 November 2016