Grand event set to mark Bahrain banking strides

A grand event will be held later this year to mark the 100 years of banking operations in the Kingdom. Organised by the Bahrain Association of Banks (BAB), the Kingdom will hold an event in connection with the 100th anniversary of the banking sector on September 11 under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa.

“The celebration marks the establishment of the first bank in Bahrain, Standard and Chartered (formerly the Oriental Bank Limited), 100 years ago, thus making Bahrain’s financial and banking sector among the oldest in the region and the world,” the BAB stated. BAB’s Board of Directors’ chairman, Adnan Ahmed Yousif, extended thanks and appreciation to HRH the Prime Minister for patronising the festivity, which, he said, reflects his constant keenness on supporting the banking sector in the kingdom for many decades.

 Mr Yousif underlined BAB’s desire to hold a mega celebration of the event commensurate with the importance of the deep-rooted sector, in co0operation with all partners, including the Foreign Affairs Ministry, the Central Bank of Bahrain (CBB) the Economic Development Board (EDB) and Standard Chartered Bank- Bahrain, among many others related to the economic, banking and financial sectors in general.

 The BAB chief stressed the importance of this event in Bahrain, which now hosts 382 financial institutions with total assets of $192 billion, including 98 banks, 21 of which are Islamic banks.