Bahrain This Month - Janury 2024

business bites Bahrainthismonth.com January 2024 33 TAMKEEN SUPPORTS GULF CLOSURES’ EXPANSION PROJECT BIBF RECOGNISED AS ‘BEST ISLAMIC FINANCE EDUCATION PROVIDER 2023’ The Bahrain Institute of Banking and Finance (BIBF) has been recognised as the ‘Best Islamic Finance Education Provider 2023’ at the 9th Islamic Retail Banking Award ceremony held in November, 2023 and attended by leaders from prominent regional and global financial institutions. This recognition was conferred by the Islamic Retail Banking Awards (IRBA) Committee in collaboration with Cambridge International Financial Advisory (IFA). BIBF Chief Executive Officer, Dr. Ahmed Al-Shaikh, reaffirmed the BIBF’s commitment to providing comprehensive training opportunities for professionals in Islamic finance and banking, aiming to establish a robust ecosystem comprising skilled national talents that will significantly contribute to the Kingdom’s economic growth. As one of the foremost training institutions offering professional qualifications in Islamic finance worldwide, the BIBF continuously collaborate with regulatory authorities, Islamic financial institutions, and esteemed global regulatory bodies like the World Bank and the Islamic Development Bank. The Labour Fund (Tamkeen) has confirmed its support of the expansion project of Gulf Closures – a joint venture between Aptar Group, one of the world’s largest providers of packaging solutions for beverages, food commodities, cosmetics, household cleaning products and medicines and Al Zayani Industries, a leading Bahrain-based industrial conglomerate. The expansion aims to increase the production of high-quality packaging products in the Bahrain to serve the MENA region. Gulf Closures is a leading manufacturer of beverage caps in the region, catering to the beverage manufacturing industry. The manufacturing sector is a vital driver of the national economy, contributing 14 percent to Bahrain’s Gross Domestic Product (GDP) in 2022, making it the second-largest non-oil contributor, with an annual growth rate of 4.9 percent. Through the initiative, Aptar products will be manufactured locally in the Kingdom of Bahrain and exported. Tamkeen’s support of the project includes training for Bahraini talents in the company – representing 78 percent of the workforce – as well as supporting the partial acquisition of state-of-the-art machinery and equipment for the factory, contributing to the expected creation of approximately 20 new job opportunities for local talent. Tamkeen will also support the participation of five Bahrainis in a specialised training programme at Aptar’s European headquarters through its ‘Global Ready Talent Programme’ to ensure they are equipped with the required technical skills in operating the cutting-edge equipment provided for the factory. Sustainability Forum Middle East, which is set to host its second edition on January 8 and January 9, 2024 at Gulf Hotel Bahrain, will host a series of expert-led workshops aimed at helping businesses launch or accelerate their net-zero journeys. The Forum, being held in the presence of the Minister of Oil and Environment, Special Envoy for Climate Affairs, HE Dr. Mohamed bin Mubarak bin Daina, is a regional platform for engagement, dialogue and skills building in support of climate action. This year’s forum is focused on ‘Achieving Net Zero – Pathways to Accelerating Implementation’, and workshops during this year’s event intend to help attendees develop strategies for planning, implementing and reporting on the lowering of their organisation’s carbon footprint. The interactive sessions will be delivered by PetroSkills, The Sustainability Group, Deloitte, KPMG and CFA Society. Over 500 senior decision makers from across sectors and regional and international sustainability experts are expected to participate in the forum. Its world-class programme will look holistically at the road to net-zero and the essential collaborations, funding and regulations required to accelerate the journey for businesses across sectors and the regional economies. Importantly, on the agenda will also be highlights and outcomes from the COP 28 conference recently held in the UAE and its implications for MENA climate action. SUSTAINABILITY FORUM MIDDLE EAST TO HOST EXPERT-LED WORKSHOPS

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