Interview:Mahmood Al Kooheji With Mumtalakat aiming to double its assets under management in the next seven years, what specific areas are you targeting? MAHMOOD AL KOOHEJI: We are looking to grow our assets both through the development of our existing portfolio and through acquisitions. We have already signed several acquisition deals in the first half of 2015. We look at any opportunity on…
Interview:Khalid Al Rumaihi Which countries and sectors is the EDB focusing on in terms of foreign direct investment (FDI)? KHALID AL RUMAIHI: Our long-term trading partners remain key targets, including the US, EU countries such as Germany, France and the UK, and our GCC neighbours such as Saudi Arabia and the UAE. However, we are also increasingly looking east, which reflects the broader…
Interview:Shaikh Mohammed bin Essa Al Khalifa What changes has Tamkeen undergone that reflect its core vision and principles, and how will its success be monitored? SHAIKH MOHAMMED BIN ESSA AL KHALIFA: After extensive consultations with our stakeholders and the public, 2015 saw a year of transition for Tamkeen, with a shift towards a customer-oriented model. We aim to create comprehensive support…
Interview:Ahmed Dayyat In the face of growing regional banking competition, how should Bahrain’s sector develop strategies to maintain market share? AHMED DAYYAT: Solid and proactive coordination is required between the Central Bank of Bahrain (CBB), the Bahrain Association of Banks (BAB), the Economic Development Board (EDB) and the Bahrain Institute of Banking and Finance (BIBF) to ensure…
Interview: Hassan Jarrar What measures are being taken to improve the level of confidence in Bahrain’s banks? HASSAN JARRAR: The region as a whole is experiencing low economic confidence, with unsustainable levels of spending, ongoing war and rock-bottom oil prices – all problems that have become more severe in the past year. That said, Bahrain has weathered these crises well, and Islamic finance…
Interview:Shaikha Hessa bint Khalifa Al Khalifa How would you judge the position of women in Bahrain, considering the central bank’s emphasis on women in finance in 2015? SHAIKHA HESSA BINT KHALIFA AL KHALIFA: A survey by Al Salam Bank-Bahrain of publicly listed companies in the country revealed that there is only one female chairperson in Bahrain. There are 43 heads of publicly listed companies…
Interview:Abdul Hussain bin Ali Mirza What strategies are being developed to encourage market-based energy prices in the future? ABDUL HUSSAIN BIN ALI MIRZA: Energy subsidies and cheap gas prices have clearly resulted in inefficient energy usage. Over the years, the government of Bahrain has gradually reduced the level of subsidies for products like petrol gasoline, diesel and asphalt.…
Interview: Maher Salman Al Musallam What are the steps Gulf Air is taking to improve the financial situation of the airline? MAHER SALMAN AL MUSALLAM: Improving the airline’s financial situation is being accomplished by tapping into opportunities for revenue enhancement, cost reduction and contract renegotiations. Gulf Air’s strategic restructuring strategy is aimed at stemming financial losses…
Interview:Mohammed Khalil Alsayed To what extent has progress been made in providing more social housing in Bahrain? MOHAMMED KHALIL ALSAYED: The Affordable Housing Public-Private Partnership (PPP) project, being undertaken by Naseej, is the first in the Gulf region to provide social housing on such a scale via the PPP model. Approximately 50,000 people are on the waiting list for social housing…
Interview:Faisal Faqeeh What affect will the new real estate development laws have, and how can regulation be improved? FAISAL FAQEEH: The new laws are focused on protecting the interests of buyers, and do not have developers in mind. For this reason the laws should be re-examined, and the experience of players familiar with the market’s characteristics and current condition should be sought.…
