Thu, 28 April 2022
Chairman of the Bahrain Association of Banks, Adnan Yousif, emphasised the association’s desire to expand cooperation with financial institutions and investment companies in the Republic of Turkey in various fields of banking, finance, and investment as part of the association’s efforts to promote the financial and banking sector in Bahrain, attract more investment, and support the national economy.
A Turkish delegation had visited the Kingdom to attend the seventh meeting of the Joint Economic Committee between the two countries during which Mr. Yousif met with the delegation. “Bahrain provides an attractive investment environment, advanced Islamic banking and has the availability of expert and trained local professionals that form over 90 percent of the financial and banking institutions workforce,” says Mr. Yousif.
“The banking sector of both Bahrain and Turkey is similar in many aspects, including the freedom to do business, company ownership, and movement of funds to and from the state, in addition to not charging fees on capital flows for local or international investors,” explains Mr. Yousif.
The meeting comes in line with the efforts of the Bahrain Association of Banks and the Banks Association of Turkey to implement the memorandum of understanding signed between them in 2017, and its provisions.