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BAB discuss cooperation ties with BOJ

Date: 04/09/2019

Amman, September 2019, Bahrain Association of Banks (BAB) CEO Dr. Waheed Al Qassim met Bank of Jordan-Bahrain’s wholesale banking (BOJ) CEO Mr. Salam Gamoah, to discuss further support to recently established Bank of Jordan in Bahrain.

During the meeting, BOJ applied for BAB membership and also supported the 100th anniversary celebration of Bahraini’s banking sector.

BAB chief executive Dr. Waheed AL Qassim said: “We are delighted to welcome BOJ as a new member to participate in BAB’s events and programs and banks committee.”

Dr. Al Qassim praised BOJ’s decision to launch its branch in Bahrain to expand its corporate and financial banking activities, “Bahrain has always been a destination for various financial and banking institutions, due to the importance of Bahrain as a prominent regional financial center and to the development of the legislation of financial and banking services provided by the Central Bank of Bahrain. In addition to Bahrain’s strategic location in the Arabian Gulf region, it provides companies with an opportunity to expand their services, activities and relationships with other local, regional and international banks and companies.” Said Dr. Al Qassim.

For his part, CEO of BOJ’s wholesale banking hub Mr. Salam Gamoah stressed the Bank’s keenness to expand channels of cooperation with the financial and banking sector in the Kingdom of Bahrain. He praised the CBB’s support for the establishment of Bank of Jordan in Bahrain, and CBB’s efforts to develop banking legislation and attract investors.

During the meeting, Mr. Gamoah explained that BOJ new hub in Bahrain is in line with the strategic objectives of Bank of Jordan to its regional expansion, which provides an opportunity to expand its services, activities and relationships with regional banks and corporates in the MENA region.

He added that Bank’s customers can open external accounts in Bahrain, access to trade facilities, deposit services and other diversified and integrated financial and investment products.

Today, Bank of Jordan is among the top five major pioneering local banks with a capital of JD200 million. The bank also has various distribution channels that include branches, offices, and ATMs in Jordan, Palestine and Syria.