Al Salam Bank in deal to collect LMRA fees
Manama, February 17, 2010
Al Salam Bank Bahrain (ASBB) has signed an agreement with the Labour Market Regulatory Authority (LMRA) to collect fees on behalf of the organisation.
Under the deal, ASBB will collect fees at its Seef district and City Centre Mall branches, as well as at all branches of Bahraini Saudi Bank (BSB), a subsidiary of ASBB.
'By partnering with the LMRA we hope to positively contribute to the exemplary work the authority has conducted in regulating the labour market in Bahrain related to residency affairs and issuing work permits for foreign residents,' said ASBB director and chief executive officer Yousif Taqi.
The memorandum is in line with ASBB's strategy to diversify its services to various commercial, economic and government sectors in the kingdom.
'We are honoured to have been chosen to leverage our superior banking capabilities, technological expertise as well as our network to ensure security and efficiency in the process,' added Taqi.
LMRA specialists have spent the past few weeks training ASBB's staff on the various functions of LMRA's special system.
The authority has dedicated a support team to be on standby to address any technical issues during transactions.
'LMRA is constantly striving to improve its services and ease procedures for the convenience of clients,' said LMRA chief executive officer Ali Radhi.
'The memorandum with Al Salam Bank Bahrain will increase the number of collection points through the bank's various branches, further streamlining and simplifying the fee collection process,' he added.-TradeArabia News Service