HRH Premier’s role in boosting banking sector highlighted

Manama, Oct. 25 (BNA): President and CEO of Al-Baraka Banking Group, Adnan Ahmed Yousif, said that the banking sector in the kingdom represents a great success story that proves the high competence of the national human resources in managing huge and pioneering banking institutions. It also stands witness to the major role played by Bahrain in providing bank financing for Arab and developing countries, which contributed to their progress, he said. Adnan Ahmed Yousif affirmed the continuous efforts of the government, led by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, and the Central Bank of Bahrain (CBB), have significantly contributed to diversifying income sources, and generating thousands of jobs for Bahrainis, noting that the banking sector contributes to the kingdom’s GDP by 17%, and employs 14,000 people, 66% of whom are Bahrainis. He emphasised that the kingdom’s banking experience has succeeded and attained multiple landmark achievements thanks to the unwavering support of HRH the Prime Minister. In a statement to the Bahrain News Agency (BNA), Adnan Ahmed Yousif stressed that the kingdom’s celebration of the centenary of the banking sector is a source of pride and an opportunity to highlight its success stories in the banking and financial industry. He affirmed that HRH Premier masterminded the renaissance of Bahrain’s banking and financial starting from the mid-1970s, with his success in attracting offshore banks, thus making the kingdom a favourable destination for world-famed banks, and a host of many large GCC and Arab banks. He added that the kingdom has become a prestigious and advanced international banking and financial centre that provides all facilities and incentives for investments from all over the world.