BAB releases retail banking guide
Manama, July 10, 2014
Bahrain Association of Banks (BAB) has announced the release of 'The Handbook of Retail Banking,' billed as an essential guide to the retail banking industry in Bahrain.
The handbook takes a practical look at retail banking services and products including basic current accounts, savings products, mortgages and credit cards that are offered by both conventional and Islamic banks in Bahrain.
The aim of the handbook, published in conjunction with Bahrain Polytechnic, is to be a helpful, accessible tool for people who want to learn about the basics of finance and help them understand both the benefits and risks associated with financial services and products.
It also looks "behind the scenes" at retail banking operations with a focus on the role of the Central Bank of Bahrain and The Benefit Company - the local switch in Bahrain which handles ATM and point of sale transactions among other services.
A glossary of terms and a directory of retail banks in Bahrain rounds off the publication.
NBB is the sponsor of the handbook, which is priced at BD6.5 ($17.1).
"The handbook should prove to be a useful resource for all bank customers who want to know more about the products and services offered by banks in Bahrain," said BAB chairman and NBB chief executive Abdul Razak Al Qassim.
"But it will be especially helpful for young people who need clear and unbiased information about finance as they open bank accounts and take their first steps towards financial independence," stated Al Qassim.-TradeArabia News Service