Bahrain ranked first in MENA by Islamic Finance Development Indicator for seventh consecutive year

Posted on by edbuser

  • Research by the Islamic Development Bank and Refinitiv puts Kingdom in the lead regionally and second globally

  • Seventh consecutive first-place ranking based on robust and supportive regulation and increases in number of Islamic Banking Assets and number of institutions offering Islamic Finance

  • Continued success comes despite backdrop of slowing growth in the Islamic Banking sector globally

Jakarta, November 13th – Bahrain has topped the entire MENA region for Islamic Finance development, according to the seventh and latest annual Islamic Finance Development Indicator (IFDI). The Kingdom, which has led MENA in all seven IFDIs to date, also ranked in second place globally this year. The IFDI is part of the annual Islamic Finance Development Report produced by the Islamic Development Bank’s private sector development arm – the Islamic Corporation for the Development of the Private Sector (ICD) – in partnership with information provider Refinitiv. Key findings of the report and the IFDI were released today at the Indonesia Sharia Economic Festival in Jakarta.

The IFDI provides an annual rank for each economy in the global Islamic finance industry. It aggregates scores across five component areas – quantitative development, knowledge, governance, corporate social responsibility, and awareness – for the 131 countries where Islamic finance has a presence. Bahrain’s continued high ranking is based upon its robust and supportive regulation for Islamic finance and banking as well as increases in both the number of Islamic banking assets and the number of institutions offering Islamic finance. This success came despite a global slowing of growth in the Islamic banking sector.

The report highlighted FinTech as a key driver and shaper of the Islamic finance industry, noting that crypto-assets are also being explored by sharia scholars and regulators in developed Islamic finance markets such as Bahrain and Malaysia. For example, Rain – the region’s first sharia-compliant cryptocurrency trading platform – was the first graduate from the Central Bank of Bahrain’s FinTech Regulatory Sandbox, earlier this year, and has recently obtained a full operational license.

Ayman Sejiny, CEO of ICD, said: “Despite the stressed global economic environment and sluggish growth which are impacting the industry, we have found that the dynamics in the industry are changing. Sukuk are leading the industry’s growth, with global issuance since its introduction surpassing US$ 1 trillion in 2018 and continuing to grow. The industry and surrounding ecosystem are also being constantly reshaped by innovation. This is particularly in the areas of financial technology and sustainability which aligns with the strategies of ICD.”

Khalid Humaidan, Chief Executive at the Bahrain EDB said: “It’s a pleasure to once again see Bahrain leading the region in Islamic Finance development. The Kingdom has worked hard to position itself not just as the region’s FinTech hub, but also as a testbed for regulating emerging and cutting-edge technologies such as blockchain and open banking. Our continued high ranking in the IFDI is testament to our innovative and pioneering approach.”

–ENDS—

Explore Islami Finance in Bahrain
For more information on Takaful & other initiatives

For more information, please contact:

Communications and Media Department
Economic Development Board
Phone: +973-17-589966
E-mail: internationalmedia@bahrainedb.com

About Bahrain Economic Development Board

The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.

About the Islamic Finance Development Indicator
Developed by ICD and Refinitiv, the Islamic Finance Development Indicator is a composite weighted-index that measures the overall development of the Islamic Finance industry by providing an aggregate assessment of the performance of all its parts, in line with the objectives of Islamic principles.
The indicator is released annually, along with a full report detailing each country- and unit-specific indicator and their raw numbers.
Each indicator within the composite indicator’s constituents is equally weighted and aggregated. In addition, normalization is required prior to any data aggregation as the variable indicators in a data set have different measurement units.
For the Country Composite Indicator level, indicators are normalized to allow for meaningful comparisons over time for a given country and between countries. Various economic indicators (e.g., population size) are considered, while the health of the Islamic finance industry is measured in each country.
To learn more about the indicator, please visit https://www.zawya.com/islamic-finance-development-indicator/

UAE National Day 2019: 10 reasons to visit Bahrain for the long weekend

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The Kingdom has plenty to offer visitors from the UAE this December

Dianne Apen-Sadler
November 12, 2019 2:49 PM

Manama Skyline Time Out Abu Dhabi

Picking where to go for the three-day public holiday in December isn’t easy: there are dozens of places around the GCC, or even further afield in India or Sri Lanka, that might have caught your eye.

There are also lots of hotels and restaurants in the UAE putting on deals for the 49th National Day too, meaning you might even end up enjoying a staycation this December 1-3.

Here at Time Out, we want to make the decision easier for you, which is why we think you should head to Bahrain for the long weekend next month.

The Kingdom has plenty of things to do, top restaurants and bars you just won’t find in the UAE, and it even has a brunches to rival the ones you’ll find in Dubai and Abu Dhabi.

Read on for our top reasons you should pick Bahrain for your next trip.

The history
The main draw of Bahrain is undeniably its rich cultural history. Humans have lived in the area since around 3000 BCE, and the archipelago of islands is believed to have once been the capital of the Dilmun Empire. You can explore this rich past at one of the Kingdom’s three UNESCO World Heritage sites: the Dilmun Burial Mounds, the Qal’at Al Bahrain, and the Bahrain Pearling Path, each of which gives an insight into the development of Bahrain from the reign of the Dilmuns, to the occupation by the Portuguese, to the monopoly of the pearling industry prior to the 1930s.

To dive into the world’s largest underwater theme park
If you’re a keen diver, Dive Bahrain is one attraction you simply can’t miss. Once complete, the underwater theme park will be the largest in the world, with submerged structures including a pearl merchant’s house for you to explore. The first stage of the development opened in September, so if you head there now you’ll be one of the first to swim inside a submerged Boeing 747. If you’re after something more traditional, you can also try your hand at pearl diving and can keep whatever sea bounty you find.

For the home-grown music scene
The UAE certainly attracts some of the world’s best artists, from Dua Lipa to Lionel Richie, and from Lana Del Rey to The Killers but if you’re looking for alternative music, it can’t hold a candle to Bahrain’s scene. The Bahrain Underground Music Movement champion home-grown artists in the Kingdom through its events, as do Museland which has hosted parties with music ranging from hip-hop to 70s and 80s punk. You’ll also find plenty of live acts performing every night across the Kingdom.

For the amazing traditional food
It’s perfectly acceptable to think with your stomach when choosing where to visit. Luckily for you, Bahrain has plenty of restaurants serving up traditional dishes from machboos to emmawash. You can go for a proper hole-in-the-wall experience at Haji Gahwa, which doesn’t even have a menu, or head to Saffron by Jena which puts a modern twist on recipes passed down the generations (and won several Time Out awards while doing so!). And for those of you with a sweet tooth, you can pick up halwa at a souq, too.

To be amazed by the traditional craftsmanship
You can learn all about the traditional handicrafts practised over the centuries at the Bahrain National Museum, and then head out into the Kingdom to actually see it in practice. The pottery district in A’Ali is lined with vases and other crockery that you can buy, and, as long as you don’t disturb anyone, you can watch them at work at the kiln. Plus, the Al Jasra Handicrafts Centre is filled with Bahraini artists who are tasked with saving traditional methods from extinction and educating others about them.

To visit the first Grand Prix circuit in the Middle East
The Bahrain International Circuit in Sakhir, which opened in 2004, held the first Grand Prix in the Middle East. While the next Formula 1 race won’t be held here until March, you can still go on a tour for just Dhs64, or try your hand at the corners in your car on one of the open track nights.

For the island hopping
Depending on who you ask, the Kingdom is made up of between 33 and 84 islands, and you shouldn’t restrict yourself to just Bahrain and Muharraq. Hop on a boat from Sitra and you’ll be on Al Dar Islands in just eight minutes, where you’ll find gorgeous beaches, and plenty of activities like kayaking, volleyball, or dolphin watching to take part in. Or you could head out to Jarada Island, a patch of sand that is one of the most pristine beaches in Bahrain as it disappears and reappears with the tide.

To go camping under the stars
Camping in Bahrain is a big deal. Every winter, thousands of Bahrainis head to the Sakhir desert and set up camp for the season, which runs from November to March. The lack of light pollution means you’ll get the best view of the stars possible, and as a bonus, it’s super romantic if you’re looking to treat that special someone.

It’s just an hour and 15 minutes away by plane
The flight to Bahrain is just an hour and 15 minutes, meaning you’ll probably spend more time in the airport than you do in the air. Then, from Bahrain International, you’ll be in Manama in 15 minutes, meaning you have plenty of time for sight-seeing even if you’ve got just 24 hours or 48 hours to explore.
Flights from Dhs800 return. Gulf Air, Emirates and Flydubai all fly direct to Bahrain.

You can keep up-to-date with all the latest happenings with Time Out Bahrain
You’ll be able to find everything you need to know about Bahrain, from the best rooftop bars to the cheapest spots for a bite to eat, on our sister website Time Out Bahrain. Head here to find even more reasons to visit the Kingdom next month.

©  Time Out Abu Dhabi 2019

Bahrain Readies for $320BN Middle East AI Boom with WEF Future Tech Workshop

Posted on by edbuser

  • WEF workshop help to build global framework for Artificial Intelligence procurement

  • Events brought together government and entrepreneurs to develop future roadmap

  • Experts from PwC predict a $320 billion AI boom in the Middle East by 2030

World Economic Forum AI Workshop Bahrain

Manama, Wednesday November 6 – The World Economic Forum’s Centre for the Fourth Industrial Revolution Network has hosted a workshop in Manama to discuss the future of public Artificial Intelligence (AI) procurement, in partnership with the Bahrain Economic Development board and Bahrain’s Information & eGovernment Authority (iGA).

The workshop follows closely on from the WEF Annual Meeting of the New Champions in Dalian, China. During the major global event, the World Economic Forum announced that Bahrain would pilot new guidelines for the procurement of AI in the public sector, produced by WEF’s Centre for the Fourth Industrial Revolution.

The workshop, held between November 5-7, brought together Bahrain government stakeholders, entrepreneurs and experts to identify key opportunities and challenges for the high-tech industry. The sessions also helped to gather evidence and feedback on the guidelines for AI procurement in the public sector and developed a roadmap to advance this goal among the government of Bahrain.

PwC predicted an AI boom in the Middle East, with the sector contributing $320 billion to the region’s economy by 2030 – positioning Bahrain and neighbouring nations as a strategic development “springboard”.

Eddan Katz, Project Lead, AI and Machine Learning of WEF C4IR said: “The readiness of Bahrain’s public sector for the social and economic development anticipated by the dawn of artificial intelligence is impressive. Visionary leadership enabling multidisciplinary coordination across sectors demonstrates how a commitment to responsible innovation can transform how government works and help improve people’s lives.”

Khalid Humaidan, Chief Executive of the Bahrain EDB said: “Bahrain is a world leader when it comes to the testing, governance and regulation of emerging technologies, making it the ideal partner for this World Economic Forum project. Governments around the world may be hesitant to adopt AI systems when faced with complex procurement processes, but by working together we can create a model that truly powers the public sector into the next generation of technology.”

Mohammed Ali Al Qaed, Chief Executive of the iGA said: “Government of Bahrain recognizes the importance of possessing the necessary know-how supported by rules and guidelines for the procurement of AI solutions. The guidelines for public procurement of AI, as determined by the WEF, present us an opportunity to learn and utilize how we should acquire and deploy AI based solutions. They put in place an innovative and reliable method for the procurement process, drawing from the input of experts in the field, and maximizing the benefits of science and technology for our society.”

 

–ENDS–

For more information and media enquiries, please contact:

Communications and Media Department
Economic Development Board
Phone: +973-17-589966
E-mail: internationalmedia@bahrainedb.com

About Bahrain Economic Development Board

The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.

About the World Economic Forum Centre for the Fourth Industrial Revolution

The Centre for the Fourth Industrial Revolution is a hub for global, multi-stakeholder cooperation to develop policy frameworks and advance collaborations that accelerate the benefits of science and technology.

Drawing on the World Economic Forum’s global convening power, community creation and insight generation, the Centre for the Fourth Industrial Revolution in San Francisco aims to accelerate cross-sector cooperation for Fourth Industrial Revolution governance. The Centre develops, pilots and scales agile and human-centred governance tools that can be adopted by policy-makers, legislators and regulators worldwide to address challenges related to emerging technologies.

The Centre is co-designing and piloting policy frameworks and governance protocols across six areas of focus. To help companies and governments accelerate the benefits of the Fourth Industrial Revolution, the Forum also has projects dedicated to Precision Medicine, Digital Trade and Fourth Industrial Revolution for the Earth.

Learn more about the AI procurement guidelines
Learn more about the ICT in Bahrain

University of Strathclyde to teach ‘pioneering’ fintech degree in Bahrain

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Director of the BIBF Ahmed Al Shaikh and David Hillier, associate principal and executive dean of University of Strathclyde Business School. Picture: Contributed.

The University of Strathclyde has launched a financial technology Master’s course in Bahrain, believed to be the first programme of its kind in the region.

The Scottish university will deliver a part-time programme in partnership with the Bahrain Institute of Banking and Finance (BIBF), as Bahrain aims to become a “pioneering” fintech hub in the Gulf.

It is designed to provide skilled workers to the fintech sector while also acting as a platform for interaction between British and Bahrain-based fintech companies.

The programme, approved by the Bahrain Higher Education Council, teaches the concept of “strategic fintech”, a top-down view of how innovation is impacting business models and society.

Its first intake is scheduled for February 2020 and the entire programme will be delivered in Bahrain over a two-year period by Strathclyde academics, via a scheduled series of weekend face to face intensive classes and weekly local tutoring.

David Hillier, associate principal and executive dean of University of Strathclyde Business School, said: “Our MSc FinTech will bolster Bahrain’s position as a leading fintech hub in the region, and offer ambitious individuals the opportunity to gain a cutting-edge qualification, delivered by Strathclyde academics, without having to take a year out to complete studies.

“Graduates will be highly employable and have the relevant skillsets for future careers in capital markets. We’re confident that we will enable students to fast-track into a successful career in the finance sector.

The university’s Technology and Innovation Centre, which has played a leading global role in developing fintech skills and innovation, last month hosted the first symposium of the FinTech National Network.

It has also recently secured funding of £4.6 million to support a “ground-breaking” quantum technology partnership with Glasgow quantum technology firm M Squared, which aims to develop some of the world’s most powerful computers.

Ahmed Al Shaikh, director of the BIBF, described Strathclyde as an “internationally-recognised” university.

He added: “As the training arm for the financial sector in Bahrain, we are well-placed to equip the Bahraini workforce with the broad set of skills and knowledge required in this fast-growing sector and allow them to take advantage of the opportunities arising from fintech.”

Published on Monday, 04 November 2019 by Hannah Burley, The Scotsman 

Bahrain-Turkey trade set to grow

Posted on by edbuser
  • In 2018, trade volume between Turkey and Bahrain increased by 17% to exceed $500mln

Skyline with Bahrain World Trade Center in Manama, Bahrain.
Image used for illustrative purpose. Skyline with Bahrain World Trade Center in Manama, Bahrain. Getty Images

By Staff Writer, Gulf Daily News

I see great potential for Bahrain-Turkey trade relations,” said Embassy of Turkey commercial counsellor associate Professor Guzin Bayar.

“In 2018, trade volume between Turkey and Bahrain increased by 17 per cent to exceed $500 million.

“However, it is still much under its potential.

“Turkey and Bahrain share similar cultural values.

“In many of the products Bahrain imports, Turkey has competitive advantage in world markets.

“Turkish food products are liked in Bahrain; there are many Turkish restaurants.

“A lot of famous Turkish clothing brands gave franchises and opened shops in malls.

“Turkish furniture is much liked with its design and quality.

“Turkish firms TAV Airports Holding and GAMA Holding are completing their big projects.

“Turkish exports are much more varied than that.

“Especially since the beginning of the millennium, Turkey’s export structure became dominated more with higher value-added, medium-high technology products.

“As of today, motor vehicles have the highest share in Turkey’s exports; followed by machinery, iron and steel, and electrical appliances.

“In Turkey’s exports to Bahrain especially in the last years’ share of higher value-added products like electrical transformers, cables, air-conditioning machinery, motor vehicles, water treatment machinery and refrigerators increase.

“Aluminium products and petrochemicals are major import items of Turkey from Bahrain.

“Bahrain is one of the most successful countries in its region in diversifying its economy from oil; in the fields of aluminium, petrochemicals, cables, fertilizers, chemicals, plastics industries.

“We get happy observing Bahrain’s successes. We hope we can achieve more by co-operating.

“There are great opportunities also in forming partnerships and investing.

“In some of these sectors Bahrain is very good at, Turkey is a big importer.

“Why not produce these together in Bahrain or in Turkey?

“Bahrain has a liberal economy, does not have heavy bureaucracy and doing business in the country is easy.

“Bahrain has customs union with Gulf Co-operation Council.

“For these reasons many companies who want to distribute all over to GCC countries prefer basing their operations in Bahrain.

“Face-to-face meetings are very useful in improving trade relations.

“Turkish Exporters’ Assembly in co-operation with Bahrain Businessmen’s Association and Bahrain Businesswomen Society with the support of our Embassy of Turkey’s commercial counsellor’s office are organising interactive bilateral business meetings for Bahraini/Turkish companies.

“Turkish and Bahrain Bilateral Business Forum and B2B meetings will be held on November 3, 2019 from 9am to 5pm at The Diplomat Radisson Blu Hotel, Residence and Spa, Manama.

“This event will be an excellent opportunity for Turkish and Bahraini companies to connect.”

© Copyright 2019 www.gdnonline.com

Copyright 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Bahrain to fast-track setup process for global startups

Posted on by edbuser

Lisbon – 29 October 2019: The Bahrain Economic Development Board (EDB) – the investment promotion agency for the Kingdom of Bahrain in partnership with Web Summit – announced today a fast-track setup process for startups globally looking to take advantage of the business environment and startup ecosystem in Bahrain. The initiative will also enable startups to access the broader MENA region markets with the hyper-connected Kingdom of Bahrain as their launchpad.

The announcement was made prior to the leading annual technology conference Web Summit 2019, which will be attended by a high-level delegation from Team Bahrain to include; the EDB, Tamkeen (Bahrain Labour Fund), Bahrain Chamber of Commerce and Industry, Bahraini startups and accelerators. International startups and related entities interested in learning more about Bahrain startup ecosystem, and the benefits Bahrain has to offer, are encouraged to visit the Bahrain EDB stand – no. E359, pavilion 3 – where a team will be on hand for the duration of the summit (November 5 – 7) to answer any questions.

The fast-track setup process is a free service offered through a dedicated concierge, and includes:

  • A fast-tracked entry process which will cover residency, visa requirements and business registration
  • Guidance from Bahrain’s incubators and accelerators, as well as access to their networks and programmes that will provide businesses with the connections they need to grow and expand
  • Access to grants and financial support

The initiative will allow businesses and startups to benefit from the full ecosystem in Bahrain, which boasts operating costs up to 40% lower than its neighbours, one of the region’s most highly skilled local workforces and some of the most advanced soft infrastructure in MENA. Sitting at the nexus of the Middle East, the Kingdom offers a convenient springboard into the wider region opportunity, including its largest market, Saudi Arabia.

Commenting on this announcement, Ms. Pakiza Abdulrahman, Manager of Business Development – Startups at Bahrain EDB said:

“International startups can benefit hugely from the entrepreneurial support structure in Bahrain – offering access to capital, talent and new markets. With a hassle-free approach to setting up businesses in Bahrain, there is no better base to scale across the growing $1.5 trillion Gulf market.”

 Michael Cunningham, Senior Vice President of Partnerships at the Web Summit said

“We’re glad to see startup initiatives like that of the Bahrain Economic Development Board. It will be great that startups present at this year’s Web Summit will be able to benefit from their efforts.”

In recent years, Bahrain has expended considerable resources diversifying away from a previous focus on hydrocarbons. It now enjoys a burgeoning and increasingly dynamic digital economy; a maturing tech community; and a rapidly growing FinTech ecosystem. The Kingdom’s pioneering, agile and flexible regulatory framework allows it to regulate emerging technologies – such as open banking and cryptocurrencies – in a way other jurisdictions simply cannot. Thanks to this, Bahrain has earned a reputation as the region’s de facto test-bed for cutting edge technologies.

–Ends–

For more information and media enquiries, please contact:

Communications and Media Department

Economic Development Board

Phone: +973-17-589966

E-mail: internationalmedia@bahrainedb.com

About Bahrain Economic Development Board

The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

Learn more about Startup Bahrain
Learn more about ICT in Bahrain

Amazon Awards Specialized Cloud Computing Certifications to Employees of Five Government Entities

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15 September 2019

Teresa Carlson, Vice President, Worldwide Public Sector at Amazon Web Services (AWS) – responsible for strategy, operations, sales and business development, awarded the AWS specialized certifications in the field of Information, Communication, and Cloud Computing to a group of outstanding employees from five public sector entities, out of 400 employees joined the training program, with the presence of Information & eGovernment Authority (iGA) Chief Executive, Mohamed Ali AlQaed. 

The five entities honored were Ministry of Education, National Oil and Gas Authority (NOGA), Polytechnic University, National Health Regulatory Authority (NHRA), and iGA. The ceremony was part of AWS Global Summit 2019, which was held on Sunday, 15th September. 

Mr. AlQaed congratulated the employees for their efforts in completing the Amazon training courses, praising the active role played by these entities in adopting cloud computing in order to achieve the greatest possible use of the technology. He expressed his sincere thanks to the Ministers and concerned officials for their guidance in supporting this direction by the government, which aims to strengthen the performance of the IT sector in the Kingdom of Bahrain. He praised the cooperation between iGA and Tamkeen in implementing a range of joint programs through the Professional Certifications Scheme, which includes many cloud computing certifications.

He urged other government entities to adopt the Cloud-First policy in line with the advanced and innovative approach being taken in the region, especially since the Kingdom has also launched, in cooperation with AWS, the first Cloud Data Center of its kind in the Middle East. The Center will enhance the readiness of the ICT sector while creating new opportunities and paving the way for further productivity growth at a lower cost.

In 2017, iGA launched the national project across all government entities, with the aim of migrating the IT infrastructure to cloud computing systems, making this technology the preferred choice for the operation and management of government organizations’ systems, saving effort, time, and expenses.

© Copyright 2019 BNA 1408 GMT 2019/09/15

 

BD52m Mall of Dilmunia ‘receives great interest’

mall of dilmunia
Posted on by edbuser

Manama: With the development being in its final stages, Dilmunia Mall has received great interest from investors and retailers across the region.

Tenants have started fit-outs of units, and are currently in the process of completing store interiors, said a statement from Dilmunia Mall Development Company.

According to the developer, Mall of Dilmunia aims to redefine the shopping and entertainment experience in Bahrain, creating a unique and leisurely atmosphere for all members of the family to enjoy.

The BD52 million ($137m) crescent-shaped mall is located in the heart of Dilmunia Island, Muharraq, on a built-up area of 125,000sqm over 26,754sqm of land and a gross leasable area of 47,300sqm including a spacious underground car park.

In line with its efforts to encourage families to spend quality time together, the mall will feature recreational facilities including an indoor zipline, two football fields and a state-of-the-art indoor ice skating rink within a safe space that meets international quality and safety standards.

Dilmunia Mall Development Company has also announced its collaboration with Bahrain-based entertainment company Funscape World to provide four different entertainment zones, further elevating the standard of entertainment offerings in Bahrain.

Mall of Dilmunia chairman Shaikh Khalid bin Mohamed Al Khalifa said, “Tenants have commenced fit-outs of their stores at Mall of Dilmunia which aims to provide a distinctive leisure experience for the entire family. We are working round the clock to ensure that the mall is completed with facilities of the highest international standards to provide both our tenants and visitors with the optimal experience.

“We have also received immense interest from international brands and retailers and are carefully selecting leading brands to be a part of the Mall of Dilmunia.

Chief executive Shaikh Mohammed bin Duaij Al Khalifa said, “Mall of Dilmunia will become a unique destination, combining various leisure facilities to offer a unique shopping experience.

“The mall will include an array of exclusive international brands opening their doors for the first time in the kingdom, including Tamimi Markets, which is among the fastest growing supermarkets in Saudi Arabia.”

According to the developer, the mall comprises three floors, providing quality services of entertainment, leisure and retail as well as an al fresco dining experience overlooking a canal. It features a 17-metre-tall cylindrical aquarium, and its atrium will be the largest that can be utilised as an event venue with a 100-metre video display ceiling.

It will also provide visitors with the opportunity to enjoy an abundance of luxurious amenities, dining outlets and cafés amid breathtaking views of Muharraq Island.

© Copyright 2019 www.gdnonline.com

Bahrain could soon turn into ‘specialised health care destination’

Posted on by edbuser

Investors have shown growing interest in projects on hair transplant, stem cell banks and alternative medicine, said National Health Regulatory Authority chief executive

Image used for illustrative purpose. Corridor of an empty modern Japanese hospital with Japanese and English signages.Gettyimages.

By Staff Writer, Gulf Daily News

Bahrain could soon turn into a regional hub for specialised health care facilities, according to a top government official.

Investors have shown growing interest in projects on hair transplant, stem cell banks and alternative medicine, said National Health Regulatory Authority (NHRA) chief executive Dr. Maryam Al Jalahma.

She also pointed out that the growth of private health care sector in the country has been “phenomenal” with the number of facilities increasing from 500 last year to 800 this year.

“Investments in the private health care segment have definitely been growing – and that too rapidly,” said Dr. Al Jalahma.

“The number of health care facilities has gone up from 500 to 800 and we have three drug manufacturing projects in the process.

“This year, we are seeing applications for different types of care unlike previous years where the requests were for general medical centres that are common in Bahrain or multidisciplinary clinics like dermatology, dental or ophthalmology.

“This year we have unique projects that have not been submitted for approval before, like hair transplant, stem cell bank, laboratories for examining quality of drugs and the kind.

“Such projects can turn Bahrain into hub of these specialties, including those of medicines and medical devices which can be later exported to other GCC countries.

“We also have alternative medicine centres – a Thai company has shown an interest in opening a Thai alternative medicine centre in Bahrain, which is something unique.”

Dr Al Jalahma was speaking to the GDN on the sidelines of the BDFEX Health Care Investment Forum, at the Diplomat Radisson Blu Hotel and Spa.

She was the keynote speaker at the two-day event which is the first of its kind in Bahrain jointly organised by Proact International Consultancy and United Gulf Industrial Consortia.

“At the forum we are not talking only about the development of health care facilities but also the support services that these health facilities would need, like waste management, pharmaceuticals, medical devices, catering and medical laundry, among others,” explained Dr Al Jalahma.

“For example, we have a Bahraini physician opening a tele-radiology centre, which reads radiology reports from far.

“In co-operation with Saudi Arabia this centre engages over 70 consultants who will be available 24/7 to read any type of X-rays including MRI images and CT scans.

“There are rare specialties like the brain MRI, and not every facility can afford to have a consultant to read these and such a centre would help the hospitals.”

Meanwhile, the private health care sector in Bahrain has grown rapidly, said senior medic and Noor Specialist Hospital chairwoman Dr Affaf El Shafei.

Bahrain’s first gynaecologist also called for promoting investments in rare specialty centres.

“Everybody is interested in investing in Bahrain due to the easy regulations but we need to focus on higher standards and must open doors to more rare specialties.

“Specialties in critical area should be added to Bahrain’s health sector because these specialties are more difficult to approach and to set up, in terms of expertise and infrastructure.

“From the beginning of the year we have seen investments in the health sector jump at least 50 per cent to 70pc.”

Experts at the forum, being held under the patronage of Supreme Council for Health chairman Dr. Shaikh Mohammed bin Abdulla Al Khalifa, will discuss important solutions, ideas and innovations in the health industry in Bahrain and Saudi Arabia, and address business gaps and challenges from business and technology point of view.

raji@gdn.com.bh

© Copyright 2019 www.gdnonline.com

Copyright 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc.

Accor to open first Raffles in Bahrain

Posted on by edbuser

Originally published by Business Traveller

Accor has announced plans to debut its luxury Raffles brand in the Kingdom of Bahrain.

It will see the conversion of the luxury Al Areen Palace and Spa, pictured above, though a timeline has not been given.

Accor and hotel operators GFH Financial Group said that property alterations would include the refurbishment of 56 one-bedroom Desert Pool Villas and 22 two-bedroom Royal Pool Villas.

Two more dining options will be added to the current four and the 10,000 sqm spa will be renovated.

Nearby venues include the Bahrain International F1 Circuit and the new Bahrain Exhibition and Convention Centre.

Raffles currently has two properties in the Middle East, in Dubai and Mecca. Another is set to open in 2021, in Jeddah, Saudi Arabia.

Its other hotels are in the Cambodian cities of Phnom Penh and Siem Reap; the Chinese cities of Hainan and Shenzen; the Indonesian capital Jakarta; the Philippine capital Manila; Praslin in the Seychelles; Meradhoo Island in the Maldives; and Paris, Warsaw and Istanbul in Europe.

The original Raffles hotel in Singapore, which opened in 1887, is set to reopen on August 1 following a two-year renovation.

Eight new destinations are scheduled to join the brand’s portfolio in the coming years, including Udaipur in India and Boston in the US.

“We are delighted to partner with GFH Financial Group, one of the leading investment houses in the Gulf region, to debut the Raffles brand in Bahrain, a destination which has emerged as a sophisticated option for discerning travellers from the Gulf and all over the world,” said Mark Willis, Accor’s CEO for the Middle East and Africa.

“This continued growth signals a remarkable new chapter in the success story of Raffles, a revered global luxury brand with an illustrious history and a reputation for extraordinary properties in the world’s best cities and most sought after resort locales; the Kingdom is a natural fit for the exclusive Arabia-meets-Asia palatial retreat experience that we have planned.”

©  Business Traveller 2019

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