Bahrain banks deny call for protest
Manama, February 25, 2011
The Bahrain Association of Banks (BAB) has denied rumours that it had called for protests.
"There were rumours and an article was published in Arabic Press that the association has called for organised protests,” the BAB said in a statement on Thursday.
"This is completely incorrect. The association does not engage in any political activities nor does it encourage social protests or political unrest."
“Financial services are the backbone of Bahrain’s economy, contributing 27 per cent of the country’s annual GDP and providing 14,000 jobs, training and opportunity to all sections of the Bahraini population.”
The association said all Bahrain’s banks had confirmed their operations were functioning normally.
“Central Bank of Bahrain Governor Rasheed Al Maraj has said that he believes that the underlying economic fundamentals of Bahrain remain strong,” added the statement.
“Hopefully, the dialogue by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Deputy Supreme Commander, with all parties will end this uncertainty and Bahrain will emerge stronger and with a successful financial services industry as the jewel in its crown.”-TradeArabia News Service
Tags: Bahrain banks |
More Finance & Capital Market Stories
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit