Bank Alfalah at BFH
Manama, July 18, 2007
Pakistan-based Bank Alfalah is to set up operations at Bahrain Financial Harbour (BFH).
This was announced by Bahrain Financial Harbour Holding Company (BFHHC).
As per the tenancy agreement, Bank Alfalah has committed to uptake space on the 13th floor of the Harbour Towers, which apart from being Bahrain’s tallest towers also forms a key component of the recently launched Financial Centre - Phase I of the landmark Bahrain Financial Harbour (BFH).
The bank aims at commencing its operations from BFH by mid July which coincides with its ten years celebrations. It is a leading provider of a complete range of financial services.
Commenting on the agreement with bank, BFHHC Alfalah, Stephen Rothel, chief executive Officer, said:
“We are pleased that Bank Alfalah, an important banking institution from South Asia’s booming financial services sector has chosen BFH as the ideal destination to commence its operations in the Middle East.
“While welcoming the bank to its new office in the Harbour Towers, I am confident that their decision is bound to prove beneficial in the long run and yield rich dividends.
“Furthermore, the significantly high number of South Asians in the Kingdom of Bahrain and the Gulf region makes Bank Alfalah’s decision to open an office in BFH, a step in the right direction and I wish them all the success.”
Bank Alfalah operates in the spheres of General Banking, Financial Services, Consumer Banking, Treasury and Intl and Islamic Banking.
The bank has been set up with the objective of developing and delivering the most innovative products, managing customer experience, delivering quality services that contribute to brand strength, establishing a competitive advantage and enhancing profitability, thus providing value to the stakeholders of the bank.
Bank Alfalah has grown robustly from a 3 branch operations ten years ago to a network of 215 branches locally and internationally in the Middle East and the Near East.
The bank is a highly rated Bank having been awarded AA by PACRA and BFH is delighted to welcome them to the ever increasing list.
Commenting on partnering with BFH, Tariq Rahmat, Country Head Bank Al Falah Limited, said:
“Bahrain’s growth as a financial centre of the Middle East has always been viewed by us with admiration.
“With the opening of Bahrain Financial Harbour’s Phase I - The Financial Centre, we are confident that the Kingdom will further receive a significant boost to its reputation of being a quality International Financial Centre.
“This along with BFH’s advanced technology infrastructure that has been specifically designed for financial sectors and Bahrain’s strong financial sector credentials and regulatory environment were the key factors that guided us in our decision to commence our Middle East operations from BFH.”
The deal was brokered by Cluttons who have recently been appointed as Property Managers for the Financial Centre, in addition to their existing capacity as sales, leasing & marketing Agents.
A fully integrated, master-planned development, the $1.5 billion Bahrain Financial Harbour (BFH), is aimed at creating a complete financial city, a self contained community and reinforcing Bahrain's unsurpassed position as the financial capital of the Middle East.
A first of its kind development in the region, BFH is a highly focused, committed and advanced financial environment spread over 380,000 square metres of prime seafront property in the centre of Manama, Bahrain.
Furthermore, it comprises of 10 projects that uniquely combines business, leisure and residential components under one canopy.
Phase I of the project ‘The Financial Centre’ which includes the Harbour Towers – Bahrain’s tallest towers and the Harbour Mall.
The BFH Client Relations Centre is located on-site at the<