Business in Gulf - August 2013

A BUSINESS MAGAZINE FOR TODAY’S ENTREPRENEURS AUG / SEP 2013 VOLUME-7 NO.09 Qatar:Riyal 20.00 - Oman:Riyal 2.00 - UAE:Dirhams 20.00 - Kuwait:KD 2 - Saudi Arabia:Riyal 20.00 - Bahrain:BD 2

Business IN GULF

AUGUST / SEPTEMBER 2013 / VOL-7 NO:09

BAHRAIN’S

BANKERS

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WHO’S WHO OF BAHRAIN’S BANKING INDUSTRY

CRISIS? WHAT CRISIS?

ROBERT AINEY, CEO, BAHRAIN ASSOCIATION REITERATES THAT BAHRAIN’S BANKING SECTOR WAS NOT AFFECTED BY THE CRISIS. PUBLICATION

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Contents Business IN GULF

AUGUST / SEPTEMBER 2013

40 Bahrain’s Bankers

COVER STORY 40 Bahrain’s Bankers Bahrain has one of the most vibrant banking sectors in the region, and one of the key factors that set’s Bahrain’s Banking Biz apart is the people. The industry is run by a number of individuals who are passionate about making Bahrain the financial hub of the region. We take a look at some of the key player’s in Bahrain’s Banking Industry.

FEATURE 52 Bahrain’s Booming Banking Sector The Bahrain Association of Banks (BAB) has ben committed to promoting the best practices in the vibrant banking sector of the Kingdom. In a chat with Business in Gulf, BAB CEO, Robert Ainey explains what makes Bahrain’s banking Industry unique.

80 Bidding Adieu To A Legend Mr. Abdulla Nass is one of the visionaries behind the modern financial hub that Bahrain has become. He passed away on July 28 2013, but he leaves behind a legacy that can never be forgotten.

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Bahrain’s Booming Banking Sector

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Bidding Adieu To A Legend

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BIG Autos

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Celebrating Ramadan

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Staying Ahead of the Trends

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The Perfect Fit

ENTREPRENEURS

EVENTS

SECTIONS

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The Ramadaniyat souq, a special market, taking place during the month of Ramadan was launched at Bab Al Bahrain. It follows the successful “Bab Suq” organized during the Spring of Culture. It featured kiosks and stalls selling a variety of items including Bahraini handicrafts, food, clothing and jewelry. It provided a unique opportunity to local entrepreneurs to showcase their products and services.

If you have a small business that can be easily replicated, then franchising may be one of the best ways to expand it at a fast pace. And if you tackle it the right way, you can certainly pump up your profitability. Here are eight tips to help you through the transition.

The Perfect Fit Amal Al Mulla has just launched her second collection, but has carved a niche for herself in the fashion industry of the Kingdom. Unique designs, which represent the free spirit of a wild flower, are the order of the day for their Summer Collections. We find out more.

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Staying Ahead of the Trends Rawia Rashid Abdulla is a true blue trendsetter. Right from a young age, she has loved dressing up and dressing her family and friends. She uses her skills and her eye for exquisite designs to launch the Powder Closet, a one stop shop for the best the fashion world has to offer. She tells us about her journey so far.

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Unique Opportunity For Entrepreneurs

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Celebrating Ramadan Ramadan was filled with activities and networking sessions for the media I the Kingdom. B.I.G takes a look at some of the celebrations.

8 Tips to Franchise Your Small Business

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BIG Autos Most talked about upscale full size pickup trucks in the Kingdom.

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Hotel Outlet Guide Your guide to the Kingdom’s hotel outlets for dining, shopping, nightlife and spa.

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Bahrain enjoys one of the most vibrant banking sectors in the region, and what makes it so are the people behind it.

In our banking special edition, we bring you a list of the most influential bankers in the Kingdom, and it’s definitely a list from which any of us can draw inspiration. Their experiences and commitment to their craft will continue to motivate not their staff, but will also oil the wheels of our economy.

Over the last month, Bahrain lost two brilliant astute businessmen: Mr. Abdulla Nass, who is one of the builders of modern Bahrain and Mr. Hussain Ahmed Najadi, one of the most prolific international bankers. We pay tribute to the two legends.

As always, we feature entrepreneurs, who are consistently pushing the barrier and living their dream. If you know an entrepreneur who has made the leap of faith and is worthy, please do let us know. You can reach out to us via FB & Twitter. Until then, Happy Reading!

Dilraz Kunnummal

Deputy Editor dilraz@maxmediaco.com

Contributors

a

MAXMEDIA PUBLICATION

Business IN GULF

Bahrain’s premier entreprenurial lifestyle magazine PUBLISHER / EDITOR IN CHIEF Sameer Uchi MANAGING PARTNER / GROUP EDITOR Mohd. A. Kayani DEPUTY EDITOR Dilraz Kunnummal EDITORIAL COORDINATOR Jakrapong Saengnuan SALES & MARKETING DIRECTOR Tarek Rashdan SALES & MARKETING MANAGER Christelle Yaacoub PRODUCTION MANAGER Sachan Chandran GRAPHIC DESIGNER Haroon Rasheed

Neil Fogarty is an international speaker, business writer and consultant. Currently running his 12th company, Neil has written about his experiences in the books “Kill Your Salesman” and “#CrackOn”.

Dr. Clare Beckett-McInroy is a certified professional Coach and Psychometrist who works with individuals and organisations to enable them to reach their potential. She is also president of Bizladies GCC. Bahrain@bizladies.org, clare@ beckett-mcinroy.com

Travis Steffen is the founder of WorkoutBOX, ActionJunkie Labs, and a ton of other online startups. Travis is also the author of The Art Of The Hustler, and star of the upcoming reality show, Pushing The Limit. Find him on twitter - @TravisSteffen.

PHOTOGRAPHERS Habeed H. DISTRIBUTION CONTROLLER Salah Abdulla Hassan

Please e-mail us any form of business, banking, financing, investments or entrepreneurial news. email us on: big@maxmediaco.com

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AUGUST / SEPTEMBER 2013

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{ASK BIG}

WHAT ADVICE WOULD YOU GIVE A CEO LAUNCHING OR EXPANDING IN A BRAND NEW REGION? (ONE TIP) Question by: Ashley LEAD WITH MEDIA

ARE YOUR LEGAL BASES COVERED?

RESEARCH THE REGION

JOIN STARTUP AMERICA!

SPEAK AT LOCAL EVENTS

"I have the honor of doing CEO branding for several CEO's, and I would advise a CEO to lead with media. Hire a public relations professional that can immediately get you on local TV, newspapers or radio, as this will add to your credibility locally and put you on fertile ground."

Raoul Davis | CEO, Ascendant Group

“Check with your attorney to make sure you are not triggering any additional legal requirements. For example, many cities and states require a company to register if they are “doing business” in the jurisdiction. You need to notify your legal counsel so you can determine whether your new business activities trigger any additional legal requirements.”

Doug Bend | Founder/ Small Business & Startup Attorney, Bend Law Group, PC

"I would recommend doing research on the region and on the culture of the region. I would also recommend doing market research on the area. Become knowledgeable about the type of consumers you will encounter and their buying habits, as well as what works from a marketing/ advertising/public relations standpoint."

Zach Cutler | Founder and CEO, Cutler Group

"The best all-around resource for startup founders is Startup America.

Sign up online (s.co), connect to startups in your new region, and attend local Startup America events. It just works -- I met my top mentors and co-founders this way."

Neil Thanedar | CEO, LabDoor

"Early on, find a conference or event you can speak at to create fans, customers, and a following of your product or service. Seeing someone out-ofstate coming to speak about their expertise bolsters credibility at events."

Kenny Nguyen | Founder/CEO, Big Fish Presentations

ADD A LOCAL ON YOUR TEAM

KEEP UNCOMPROMISING FOCUS

"Unless you have lived in the region you're launching in for years, you need someone local who know both the area and the culture.

Even regional cultures can be different from what you're used to, and you want a launch to go smoothly. Even bringing in a consultant can help dramatically."

Thursday Bram | Consultant, Hyper Modern Consulting

"Stick to your core competency and do what you do best. It's usually a mistake to vary your formula for success when moving into a new market.

Build your brand on what you're known for, using the killer skills that made you successful to begin with."

Nick Reese | CEO, Elite Health Blends

BUILD YOUR PERSONAL BRAND

MARKET MAKERS MAKE GOOD FRIENDS

"As a leader, you need to build your personal brand so you can effectively launch your new business. You will need new relationships, partnerships and clients to build your company. A solid brand will attract more of these than anything else."

John Hall | CEO, Influence & Co.

"Make friends with the market makers -- the people who know and influence everyone. They set the tone for a product or service and can make or break your business. Make fans of them, and they'll do much of the work for you."

Brent Beshore | Owner/CEO, Adventur.es

DRAFT A LOCAL STRATEGY "Go in with a strategy if you’re in a new region. If you have a client or group of clients in the area, then have them take you around and show you who they interact with. Join them – they have a local view into the community."

Jordan Guernsey | CEO, Molding Box

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs.

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NEWS

Tamkeen, Goys launch major youth drive

BIIP APPROVES 16 NEW PROJECTS IN H1 BAHRAIN: The Bahrain International

Investment Park (BIIP) saw 16 new projects being approved during the first half of the year, according to a senior government official.

This took to 96 the number of companies that were planning to build facilities at the BIIP, according to the Industry and Commerce Minister Dr Hassan.

The projects have an associated commitment to invest BD500 million ($1.33 billion) and to employ in excess of 10,000 people when they are fully operational.

Detailing the development status at BIIP as of the end of June, Dr Fakhro said 50 projects entailing a total investment of BD186 million and creation of 4,540 jobs were already operational.

This number had grown from 31 in 2011 to 43 last year.

Investcorp buys Tyrrells for $15m BAHRAIN: Bahrain-based private equity investor Investcorp said on Thursday it had acquired premium crisp and snack maker Tyrrells Potato Crisps from Langholm Capital for 100 million pounds ($150 million).

Last month Investcorp bought a 38 percent stake in a Saudi oil and gas services company and was expecting to complete up to three more deals through its $1 billion Gulf fund in 2013, an executive at the firm said.

The investment management group reported on Tuesday a 56 percent rise in full-year net income, helped by strong growth in fee income.

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BAHRAIN: General Organisation for

Youth and Sport (Goys) of Bahrain has signed a partnership agreement with Tamkeen, the kingdom’s labour fund, to launch the fourth edition of an initiative, which comes in to support development of Bahraini youth.

Goys President of Hisham Al Jowder and Tamkeen chief executive Mahmood Al Kooheji signed the agreement towards holding Youth City 2030, which comes as part of the Bahrain Economic Vision.

Based on the agreement, the Youth City 2030 events for this year will take place in five major centres, which include a media center, a leadership development centre, an arts centre, a science center, and an information technology centre, which all together are expected to attract Bahraini youth whose interests and talents lie within those five key areas.

Al Jowder, stressed that the Youth City project, organised for the fourth year in a row, came as part of the initiatives of the leadership, which aim to provide the best conditions for youth and allow them to refine their talents and pave the way for them to actively participate in the development process of the Kingdom.

He also emphasised on the continuous positive collaboration and fruitful cooperation between the General Organization for Youth and Sports and ‘Tamkeen’, which has led to a positive impact on the progress of young people in the Kingdom, especially through Youth City 2030.

“This project comes to highlight the importance of youth participating through such distinctive initiatives, which is a significant step for them in order to take leading positions in different sectors, and effectively contribute to the development of Bahrain in this prosperous time,” Al Jowder added.

Al Kooheji said: “Tamkeen is always proud of its key role in supporting and empowering Bahraini youth through its various support programmes. Youth City 2030 is considered key amongst such programmes.”

Bahrain plans centre to monitor radiation

BAHRAIN: Bahrain is finalising plans to set up a specialist centre to monitor radiation levels, said a top official, adding that it will focus on controlling and monitoring radiation’s impact on people and the environment.

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The country’s National Disaster Committee is studying a proposal for a National Centre for Radiation, and it could be approved within a week, Dr Adel Al Zayani, director-general the Supreme Council for Environment (SCE) told the Gulf Daily News, our sister publication.

It comes amid growing concerns about the potential impact on Bahrain and the Gulf from a disaster at Iran’s controversial nuclear power plant.

The Gulf Co-operation Council last month raised concerns about radiation leaks from the Bushehrbased facility after a 6.3 magnitude earthquake hit Iran on April 9 this year, killing more than 60 people.

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NEWS

CARPISA OPENS IN BAHRAIN BAHRAIN: Al Rashid Group,

A Division of Landmark Retail, opened their first Carpisa store in Seef Mall, Bahrain. The inauguration ceremony was held by Italian Ambassador to Bahrain, H.E. Alberto Vecchi.

Also present at this event was Sha. Hind bint Salman Al Khalifa (Chairperson – Al Rashid Group) and Territory Head Mr Vikas Attri along with other Senior Management.

Carpisa offers its clientele a wide range of bags, luggage,

leather goods and fashion accessories at excellent value with high-quality Italian design and styling for both ladies and men.

Carpisa, the first store for Bahrain, operates another 13 stores across U.A.E, K.S.A and Kuwait. Founded in 2001, Carpisa has built up one of the leading European retail networks in fashion handbags and luggage and now expanding their wings in the Gulf Region.

Asry plans growth into multiservice complex BAHRAIN: Bahrain-based Asry is well-placed to graduate from being a ship repair yard to a multi-service marine complex, the company’s chairman said, adding that its $188 million expansion programme is now largely complete.

“Asry’s future will no longer be solely dependent on ship repair, but on a variety of marine expertise that opens up exciting new revenue

GULF HOTELS PLANS $132 MILLION HOTEL IN DUBAI BAHRAIN: Bahrain-based Gulf

Hotels Group is planning to open a five-star BD50 million ($132 million) hotel in Dubai within four years, said its chief executive.

“This is a big step for us and it is very exciting for the group,” Aqeel Raees stated.

The company has bought a plot of land at the prestigious Business Bay on Dubai Creek in the heart of the northern emirate and hopes to begin construction sometime next year, he added.

“The development will be on a prime site at Business Bay on the Creek in the heart of Dubai and will be a hotel with 240 rooms with a full range of restaurants, function halls and other top class facilities.

“This is the expansion of Gulf Hotels Group in the outside world and it will represent a 50 per

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cent increase in the size of our operations,” he added.

“We were here in Bahrain before anyone else and we have been very successful. Now we are going to a market where everyone has already arrived.

“That is a challenge but I see Dubai as a big step into the future for Gulf Hotels Group. If we are successful we will have established ourselves as a chain, albeit a small chain,” he said.

He added they hoped to open the new facility within three to four years and were investing between BD45 million and BD50 million in the project.

“We have bought the land and are now in the planning stage and we will be appointing consultants and contractors over the next year and will then start work.”

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streams going forward,” said chairman Shaikh Daij bin Salman Al Khalifa.

The new strategic positioning follows the completion of a diversification process that has split Asry into four distinct business units: ship repair services, which will continue to remain the core business; offshore services; consulting services and energy services, the company said.

Finance Scheme

Achieve business growth through subsidised financing Finance scheme

Where to apply

Tamkeen, in collaboration with an array of Banks in Bahrain, offers this scheme to facilitate access to Sharia compliant financing at a competitive profit rate, wherein Tamkeen will subsidise 50% of the annual profit rate of 8% on the reducing balance. The financed amount ranges from BD 5,000 to BD 500,000 with an option of long repayment tenor of up to 10 years - according to the purpose of financing - and a grace period of 1 month to 2 years, subject to the bank’s policy.

To apply for this scheme please contact any of the partner banks at: BANK Bahrain Development Bank

CALL CENTRE 17511111

Who can apply • Enterprises that can show successful and profitable records during the last year of activity, or have opportunities for growth and development • Enterprise must be based in Bahrain

What you need Start-up enterprises are exempted from the requirements below and should submit their application to BDB only.

• Latest bank statements • Latest electricity bills • Copy of the enterprise Commercial Registration (CR) or/and licence required and the constitutive documents (copy of Partnership Agreement Memorandum and Article of Association and any constitutive documents) • Smart Card of enterprise owner • Audited or in-house Financial Report subject to the bank’s policy Note: Additional documents might be required subject to the terms and policies of the bank.

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8/5/13 10:28 AM

NEWS

The K Hotel Wins Award for Bahrainization BAHRAIN: The Specific Council

for training in hospitality hosted a ceremony to honor the outstanding hospitality establishments for Bahrainization, training and diligent workers, that have shown commitment to Nationalization by unparalleled efforts in identifying, attracting and developing nationals by implementing innovative strategies; under the patronage of His Excellency Mr. Jameel Bin Mohamed Ali Humaidan and the Council Chairmain Mr Ebrahim Al Kooheji.

The award was received

by The K Hotel employee Mr.

Abbas Yousif Moh’d Al Saffar diligent employee of the year, in recognition of his outstanding performance in 2013; also the General Manager of The K Hotel, Mr Volker Mandlowsky received the award “Winner of the highest Bahrainization percentage” of 4* Hotels 2012”, from His Excellency Mr. Jameel Bin Mohamed Ali Humaidan for appreciation to increase nationalization through HR Strategies while improving people development through training and maintain/increase the Bahranization level of the company.

4G auction scrapped BAHRAIN: Bahrain has

scrapped plans to auction off fourth generation (4G) mobile frequencies and will simply grant licenses to the three existing mobile operators. The decision was taken during the weekly Cabinet meeting. A

big -tionary Describing business terminology

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EDB report reveals ‘Champion’ sectors behind strong economic growth BAHRAIN: A recent report issued

by the Economic Development Board (EDB) identifies the role that economic, regulatory, and institutional reform played in the country’s strong economic growth between 2000 to 2011. The report also recommends policy initiatives to diversify and sustain growth momentum moving forward.

The paper, titled “Drivers of Economic Growth 2000-2011”, reviews the country’s strong growth performance in 20002011, when real GDP expanded by an annual average rate of 5%.

The study attributes the positive momentum to the importance of economic, regulatory, and institutional reform in increasing the growth rate and creating an investment climate that enabled businesses to expand.

The paper’s findings state that the past decade saw the emergence of several “champion” sectors which significantly increased their GDP weight and maintained a positive momentum even after the onset of the global crisis. These included tourism, services, and telecommunications.

By contrast, some other sectors, while key growth engines during the boom, proved highly vulnerable to the cyclical downturn. In many cases, their growth relied heavily on boosting low-cost labour inputs, which had a negative impact on labour productivity. The research argues that continuing the positive momentum of the past decade will require further efforts to boost

planned auction of 4G licenses was put on hold earlier this year after Menatelecom won a court order freezing the process. The telecom firm had gone to court to contest its alleged exclusion from the bidding process.

CONSTITUTION Fundamental and entrenched rules governing the conduct of an organization or nation state, and establishing its concept, character, and structure. It is usually a short document, general in nature and embodying the aspirations and values of its writers and subjects.

AUGUST / SEPTEMBER 2013

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human capital development, productivity, and innovation.

In terms of the key national income components – as per the study, growth in 2000-2011 was above all led by consumption and investment. While cyclical improvements in net exports had the largest impact on growth acceleration when they occurred, their underlying impact over the period as a whole was more modest. In the future, exports will drive growth in many sectors and are likely to increase in importance as companies expand beyond the confines of the national market into the regional and global spheres.

Bahrain’s growth performance was also shown to have low volatility in comparison to other emerging economies as a consequence of the Kingdom’s resilience to global economic shocks.

Strategic areas of focus that will serve to sustain growth momentum and capture emerging opportunities as the paper demonstrates include; the expansion of diversification initiatives, sector-specific strategic development initiatives and investment in high value-added areas and the development of export-oriented sectors to expand the market faced by companies, as well as boosting the efficiency of government expenditure and supporting the transition of small and medium-sized businesses to larger companies whilst fostering innovation.

NEWS

Nose Opens First Outlet in Bahrain BAHRAIN: Al Rashid Group, A Division of Landmark Retail,

opened their first Nose store in Seef Mall, Bahrain. The inauguration ceremony was held by Malaysian Ambassador to Bahrain, Dato Ahmad Shahizan Abdul Samad. Also present at this event was the Territory Head Mr Vikas Attri along with other Senior Management and dignitaries of the Malaysian Embassy.

Bahrain plans floating market to draw tourists BAHRAIN: Businessmen in Manama could start selling products from boats as part of plans to build Bahrain’s first floating market in a bid to attract tourists to a world heritage site.

The project will include a port, a colorful market with boats, traditional cafes and seafront restaurants surrounding the Bahrain Fort.

However, a ban has been in place since the 4,000-year-old fort became a World Heritage

Site in 2005 that prevents anyone from building in a way that obstructs views of the historic structure, which is one of the country’s best tourist attractions.

The Manama and Northern Municipal Councils are seeking support from the Culture Ministry to get the scheme approved by the United Nations Educational, Scientific and Cultural Organization (Unesco).

However, the exact details have to be finalized.

BAHRAIN TO LAUNCH AIR AMBULANCE SERVICE BAHRAIN: An air ambulance

service will be introduced in Bahrain to overcome delays facing emergency vehicles on the country’s congested roads, said a senior government official.

“The scheme is already in the pilot phase and the Health Ministry has been ordered to make it fully operational,” said Minister of State for Information Affairs and official government spokeswoman Sameera Rajab.

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It is being launched based on a parliamentary proposal to reduce response times, particularly in situations where emergency vehicles can be delayed.

Domain Hotels Launch first Bahrain property

BAHRAIN: The Domain Hotels has held a soft opening for its first property at in Bahrain over the Eid Al Fitr weekend.

Most of the suites and rooms as well as two of the hotel’s social spaces including Le Sauvage - a grill room and Le Domain featuring cuisine from the South of France - was available for use.

Located in Manama’s Diplomatic Area, the 36-storey social club and boutique hotel is believed to be a new hospitality concept in the Middle East that focuses on sociability, entertainment and technology.

The Domain’s slogan “stay, work, play” represents the blurring lines between business and leisure. Media, entertainment, technology, style and sociability are all embedded into one luxury, innovative experience, the hotel said in a statement.

The social element will be omnipresent throughout the hotel giving guest the opportunity to stay, eat, work, relax, try new things and meet new friends at The Domain, either as a regular guest or through the club’s membership, it said.

A specially developed app will enable guests and members to customise their experience before and during their stay and to interact with one another via The Domain’s private social platform “The Conversation”.

The emphasis on sociality is further emphasised by the eclectic, reverse-mix of the hotel-club’s dining and entertainment outlets outweighing the room offering, the statement said.

Patrick de Groot, managing director, said: “After our soft opening on the occasion of Eid Al Fitr, we expect to have all our social spaces as well as our Vie Spa and Vie Fitness floors open by September 15.”

With a total of nine social spaces, consisting of restaurants, bars and lounges, the hotel is a destination for food culture, ranging from Japanese, South of France and Basque to Italian-Lebanese.

CaliBurger to Open in Bahrain BAHRAIN: US fast food

chain CaliBurger is planning to open an outlet in Seef early next year. It comes as part of an expansion into the Gulf with branches also in the pipeline in Kuwait and Dubai.

“Given its geographic location and popularity with Saudi tourists, Bahrain is a key market for CaliBurger in the region,” said company chairman John Miller.

“The launch of CaliBurger in Bahrain will pave the way for future expansion into neighboring states like Saudi Arabia and Qatar.”

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NEWS

DUBAI HIT BY MULTI MILLION DOLLAR SCAM

UAE: An alleged multimillion-

suppliers were switched off on Monday when Gulf News tried to reach them. A senior police official said that police are investigating the case.

One mobile phone supplier said on condition of anonymity that police told them two Indian NSS managers left the UAE on Sunday. She said her company lost Dh1.2 million worth of phones.

NSS staff “went all over town” placing orders and, at first, making prompt payment in cash or cash-cheques, suppliers said.

But by Sunday, they added, millions of dirhams worth of payment cheques issued by NSS had bounced.

“At least 30 suppliers have filed complaints with the police. All of us are looking for more support in clearing

dirham scam has hit Dubai traders, with suspected conmen apparently vanishing with truck-loads of goods.

A number of suppliers said cheques by purchasers New Silver Star Trading LLC (NSS) have bounced, its employees are unreachable and its shops and offices are closed.

They estimated the size of the alleged swindle to be Dh15 million to Dh50 million.

Traders added that most of the goods ordered by NSS were electronics like tablet computers, mobile phones and TV sets. Some orders reportedly also included textiles, oil, rice, and other foodstuff.

According to traders, two NSS shops in Deira and Bur Dubai wear a deserted look, while a NSS warehouse in Ras Al Khor is empty. Their office in Dubai Airport Free Zone is also closed, they added.

NSS mobile phone numbers on documents provided by

this case, I hope even Interpol gets involved,” the phone supplier said.

“The [NSS] guys spoke well, they paid on time, earned your trust. They then vanished with your goods, leaving you with worthless cheques - or not even that,” she added.

Another one added: “They told me to collect my payment cheque on Sunday. I couldn’t trace anyone all Sunday.

Everything and everyone just disappeared.”

Some traders said they had separately been approached by two south Indian NSS managers, and about eight executives of “mixed nationalities”.

Qataris close purchase of French department store group Printemps

QATAR: Private investors

from Qatar have completed

big -tionary Describing business terminology

20

the acquisition of the Printemps department store business in France from Deutsche Asset & Wealth Management’s (DeAWM) real estate business and Italian businessman Maurizio Borletti.

DeAWM first announced in February this year that it had entered into exclusive

negotiations with Qatari investors to sell its stake in the French group, which specialises in fashion, beauty and decorative items.

Financial details were not disclosed. However, according to press agency Reuters, the Printemps business fetched €1.75 bn.

Printemps owns 16 stores and had a turnover of €1.45 bn in its 2011/12 book year. The group’s best known asset is a flagship store on boulevard Haussmann in Paris.

REVENUE The income generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of an organization before any costs or expenses are deducted. Revenue is shown usually as the top item in an income (profit and loss) statement from which all charges, costs, and expenses are subtracted to arrive at net income. Also called sales, or (in the UK) turnover.

AUGUST / SEPTEMBER 2013

Email your business news to big@maxmediaco.com

BANKS CUT 5,500 BRANCHES ACROSS EUROPE IN 2012

Banks cut 5,500 branches across the European Union last year, 2.5 percent of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008.

Last year’s cuts come after 7,200 branches were axed in 2011, according to data analysed

by Reuters from European Central Bank statistics.

Banks across Europe have been closing branches in a bid to trim operating costs and improve their battered earnings.

Consumer take-up of online and telephone banking services has accelerated the trend.

224 FIRMS FLOUT BAHRAIN SUMMER WORK BAN A total of 224 companies were found violating Bahrain’s summer work ban last month, a report said. Inspectors documented 517 workers working during the ban between midday and 4pm.

Labour Ministry undersecretary Sabah Al Dossary revealed that inspectors conducted 10,619 site visits between those times last month.

He said 87.89 per cent of the companies inspected had abided by the ban.

BREAKDOWN OF NEWS AND NUMBERS FROM AROUND THE GLOBE

SNIPPETS Bahrain’s unemployment rate for the second quarter of the year rose to 4.7 per cent up from 4 per cent in the first quarter, said a senior government official.

8.2%

BBK registered an 8.2 per cent increase in net profit to BD25.2 million ($66.84m) for the first half of the year, compared with BD23.3m for the same period last year.

$ 1Bn Iran has offered to underwrite insurance for its vessels to keep oil exports to India flowing, after New Delhi asked for assurances to help halt a fall in shipments. Iran is offering sovereign guarantees of up to $1 billion per incident to back its ships sailing to India.

$200 Mn

Arab Shipbuilding and Repair Yard (Asry) expects its revenue to hit $200 million this year as the company expands its product portfolio, its chief executive, Chris Potter has stated.

$2.76Bn Brazil imported about $2.76 billion worth of petroleum products, gas and energy from the Middle East from January to April, accounting for almost 20 per cent of total oil imports to the country.

bd 5.9mn

4.7%

Gulf Hotels Group’s net profit increased three per cent to BD5.9 million ($15.62m) for the first half of the year, compared with BD5.73 million for the same period last year.

BD 43Mn AROUND BD43 million will be spent by the Works Ministry on vital infrastructure projects this year, according to a statement by Minister Essam Khalaf. He revealed 70 tenders for projects had already been issued up until last month.

AUGUST / SEPTEMBER 2013

21

APM Terminal Announces Key Shipping Lines APM Terminals CEO Marco Neelsen explains how Bahrain is the logistical hub of the region.

APM Terminals, operators of the Shaikh Khalifa bin Salman Port (SKSP) has announced that Nippon Yusan Kaisha (NYK) and Hanjin Shipping will add a weekly call at its terminal on an Asia – US service, connecting Bahrain to the west coast of the US and Thailand, Singapore, China.

C

hief Executive Officer Marco Neelsen said, ““Starting from August, you will be able to book a container from Bahrain to Los Angeles, direct through. APM Terminals has signed up with Japanese shipping company Nippon Yusan Kysha (NYK) and Korean company Hanjin Shipping. The first ship called into Bahrain on August 12.”

“Bahrain will now be linked to the West Coast of the US as well connect to the Far East ports directly,” he stated. “In light of the Free Trade Agreements in place between the Kingdom of Bahrain and the United States of America, this will hopefully encourage more companies to set up more production lines and factories in Bahrain for the US.” “The weekly call will help develop Bahrain and the port, with imports to the Asian and Far East Asia markets connected directly.

This is expected to result in business growth with entrepreneurs coming in looking for local facilities and export and import Bahrain could develop its manufacturing sector as a result of theses new marine trade connections.”

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AUGUST / SEPTEMBER 2013

He sees Bahrain as a logistical hub for the upper Gulf. According to him, the move also cements Bahrain’s role as a logistics hub for the Northern Gulf, targeting countries like Kuwait, Iraq and Saudi Arabia. “This will take the load off Jebel Ali and bring Bahrain into the limelight – as this port is only about half way down.”

“It adds to the cost and time efficiency for any trader using Bahrain. The time saved is at least a week or more. At the moment, it takes about 40 days to ship from Bahrain to Los Angeles,” he said.

“This is another incentive for companies to set up shop in Bahrain as they get both regional and international connectivity,” he said.

Detroit is Broke!

Once dubbed “the Paris of the Midwest” a city of wide streets, imposing buildings, and home to the great US auto industry; in 1960, Detroit had the highest per capita income in the nation. But decades of decline, racial tension and corruption have brought the motor city to its knees.

Detroit Filed For Largest Municipal Bankruptcy In U.S. History

A

t a press conference convened a day after the city filed for the largest municipal bankruptcy in US history, Snyder and Kevyn Orr, the city’s unelected emergency financial manager, set out their case for taking the most drastic step ever taken by a city of Detroit’s size. With the city saddled with debts of more than $18bn, Detroit had no choice but to go bust and reorganize its debts in the bankruptcy court.

The city’s population has dropped from 2 million in 1950 to 700,000 today, as Detroiters grow tired decades of mismanagement, rising crime and poverty. The murder rate in Detroit is at a 40-year high, only a third of its ambulances are in working order, and nearly half its streetlights are broken.

Citizens have to wait 58 minutes for the police to respond to calls, compared to a national average of 11 minutes. There are 78,000 abandoned buildings in a sprawling city of 139 sq miles. Its dystopian landscape has attracted tourists and photographers from around the world looking for what the locals disparagingly call “ruin porn”.

The bankruptcy comes at a cost. No other major US city has ever filed for a chapter 9 bankruptcy, as these filings are known. New York, Cleveland and Philadelphia all come close, but brokered last-minute deals rather than face the hard cuts and acrimonious legal fights a chapter 9 filing inevitably triggers. The city’s pension funds and bondholders are preparing to fight for every dollar Detroit has to offer.

Detroit has 9,700 city employees who all now face pay cuts and worse. Close to 20,000 retirees whose pensions and health care benefits are under attack.

So far the White House has only said it is watching the situation.

But the chances of a federal bailout like the ones that saved Detroit’s car firms seem slim. It might be good for the bondholders and pensioners but it would send the wrong message to other cities. For now it seems certain that Detroit, its workers and investors will be slugging it out in court.

In recent years, though, not all the news from Detroit has been bad.

The bailout of the auto industry was a success, and the car firms are back in business. There are glimpses of a new Detroit to be seen in the city’s still crumbling center.; at the bottom of Woodward Avenue, the city’s sweeping downtown artery.

Private enterprises have shaped up iconic Detroit real estate and businesses are moving downtown. With them have come new restaurants and bars, an ice rink and an ambitious plan to rebuild Detroit from its heart. Chrysler has moved offices back into the city.

AUGUST / SEPTEMBER 2013

23

SOCIAL

NETWORKING NUANCE, NORM OR NUISANCE?

T

raditional forms of networking are still effective for career progression and exposure whilst social media is the way forward regionally and globally - point. Gone are the days of applying for jobs by filling in an application form ‘pen and paper’ style, in fact, most young people will never do this in their life. And with more progressive competencybased interviews and psychometric profiling, we have come a long way in ensuring that the right person is hired for the job. Despite this, some feel that social networking is taking over their professional (and personal) lives due to a compelling need to be connected and up-to-date.

THE NEW METAPHOR

ack in 2007, Johannisson and Mette (1997) saw the networking metaphor for entrepreneurs as a way of life, especially for small businesses, and as a phenomenon beyond rational economic behavior. Social media has great impact. It helps by ensuring the right people start to hear your message and through exposure, coupled with sound content, you can publish valuable information and gain credibility as the ‘go to’ person in your area.

In contrast, a tread mill may also appeal as a metaphor where knowledge, content and ideas are obsolete within minutes of being posted so there is no way to keep abreast of everything that’s out there.

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AUGUST / SEPTEMBER 2013

There are a myriad of questions related to progressive and strategic ways to further develop your social media presence and even the experts are learning all the time. With reference to professional networking, Stacy McCauley (2012) noted that social networks such as Facebook, are an excellent way to find out who the movers and shakers are within a certain discipline; follow them and you will be on the right tracks goes the theory. It’s simple. If you feel like your vocation is in training, enter ‘training’ as a Facebook search so you can study the pages to further develop your learn about the field as well as gaining access to valuable contacts. The educational values of social networking, includes increased exposure to varied views. It has been found that users development an optimistic image of themselves by ‘selling’ their best qualities. Through social media you can network to gain contact with varied viewpoints (Boule, 2008; Greenhow, 2009).

THE DOWN SIDE

ccording to a 2013 survey

by Business Network International, 75% of business owners have been “...put off...” by a particular company due to their poor use of social media. So, how can you ensure you use it effectively? There is plenty of advice online, but it is often generic and offers little practical value for business owners who needs more tailored advice. Instead, it’s useful to look at those companies that have got their social media strategy right and are winning new business as a result.

SECTOR SPECIFIC? etworking is certainly

relevant to all sectors of business and industry as well as across all cultures, genders and ages. For

internationally being Munich, Vienna, New York and beyond. In addition to business focussed presentations face-to-face, the ladies also share learning and project developments through Facebook, LinkedIn and Twitter with a following of over 1500 people on-line in Bahrain alone. A recent survey indicated that it is clear that these ladies still want to interact through face-to-face networking, despite time constraints and work demands. They use this platform to sell themselves and their companies and to touch-base with colleagues.

IN CONCLUSION, FOR NOW... t’s hard to believe all the

“Networking is certainly relevant to all sectors of business and industry as well as across all cultures, genders and ages.” example, in relation to public health nurses, Belinda Puetz explains that networking involves “...establishing and using contacts for information, support, and other assistance in order to achieve career goals... nurses should understand the concept, process, and techniques of networking...”. Belinda sees networking as an enjoyable and practical way to get ahead in the profession whilst recognising that it can help others at the same time. She advocates skilful, reciprocal networking whilst maintaining a positive mindset about the activity.

In 2007, The American Institute of Certified Public Accountants noted that some accounting firms have set up blogs on their firm’s web

site and began to take advantage of this marketing tool and advertising venue. In addition, one of the largest networking sites targeting professional users, LinkedIn, at the time, had 8.5 million registered members. LinkedIn members exchange job details and contact information, often for recruiting purposes. In addition, the site’s online forums and message boards provide an opportunity for professionals to state opinions on information related to their industries (Social Networking for Professionals, 2007).

Bizladies, a networking group for senior business ladies, entrepreneurs and like-minded professionals, holds ‘traditional’ networking sessions monthly in Bahrain and other chapters

things we can do through social media on a smart phone, unimaginable 10 years ago! As advanced technology, better accessibility and enhanced user experiences are made possible, we can definitely expect a proliferation of social media websites and applications along with increased quality to match. People are becoming more interdependent and so networking effectively with others is not only an asset if not a necessity. The main message? Think about your ideal clients and the type of people you wish to target. Then consider where they will be networking, both on and off line, so that your efforts are fruitful.

Dr. Clare Beckett-McInroy is a certified professional Coach and Psychometrist who works with individuals and organisations to enable them to reach their potential. She is also president of Bizladies GCC. Bahrain@bizladies.org, clare@ beckett-mcinroy.com

Ref:

Boule, Michelle (2008) Go With the Flow, School Library Journal Business Network International (http://www.bni.com) Greenhow, C. (2009), Educational benefits of social network sites: Applications to human services education, in Hawkins, L. & Martin, J. (Eds.). Information Communication Technologies for Human Services Education and Delivery: Concepts and Cases. IGI Global Publishing.

Johannisson, B., and Mette, M., (1997), Contextualizing entrepreneurial networking, International Studies of Management and Organization, M. E. Sharpe Inc. Volume 27, Issue 3, Start page 109 McCauley, S., Professional networking, RDH, PennWell Corporation, Start page 32 Social Networking for Professionals, (2007) The Practicing CPA, American Institute of Certified Public Accountants, Volume 31, Issue 8

AUGUST / SEPTEMBER 2013

25

YOU ARE NOT ALONE! WHAT IS YOUR USP ?

In this day and age, I believe, it is almost impossible to have a unique selling point (USP) – in fact, I first wrote about this in 2008 and am still yet to see evidence to the contrary!

hen I first started as a business growth consultant, I had standard questions including “what’s your USP?” – and most startups and small businesses had no idea. Back in 2005, I thought “these people are screwed!” but, over the years, I realized “these people don’t NEED a USP!” Simply, I see too many businesses fretting over their USP – and then rigorously marketing it out – and there are three fundamental issues with this: t Your selling points are only unique if your customers believe them to be so t If your selling point is good enough, it will be quickly copied t Once you believe that you have a USP, you stop innovating 26

AUGUST / SEPTEMBER 2013

It would be wrong to say that there are no new ideas out there – the world is constantly changing and this creates opportunity (let’s face it, ten years ago, the need for a Facebook ‘Like’ was zero; the importance of search engine optimization was unknown; green energy solutions were marginalized). Our connected world means that there is greater competitive awareness and greater opportunities for co-working and collaboration.

So what to do?

Well, I spend a lot of time working with companies in order to identify all the key differentiators – pulling them all together to create a Dynamic Selling Point (DSP) that will change with each modification of a differentiator.

If you have an assortment of products or services to offer, you may have identified your differentiation already – common examples of differentiation for products may be based on size, speed, colour, components, combinations or accessories. Common examples of differentiation for services include speed, performance, quality, responsiveness, availability, ease of integration.

In order to get your (continually shifting and evolving) DSP out there: Seek feedback – seek feedback from your staff and your customers – just because your CEO says that something is ‘unique’ doesn’t mean it is – ask the market!

Conduct a market study – as a more-sophisticated style of feedback, use

market research to qualify your position – and this provides empirical evidence should you need to prove your differentiation

t Responding quickly to

Review – once you have determined that there is something fantastic about what you do and offer, review it

t Being willing to tailor a product or service

Break down – much like McDonalds with their product lines, take the differentiation, and break it down to its component parts

t Offering personal levels of service

Re-define – once it’s broken down, build it back up. It may be two selling points.

It may be integrated with a dozen other differentiators. It may be a better selling point Promote – once the DSP has been produced – go tell everyone

changing requirements

t Being flexible

to meet specific customer requirements

t Offering high-quality service t Supplying specialist products or services

None of them, in isolation could ever be considered to be ‘unique’ but, by looking into each of these 12 ideas – market feedback, reviewing, re-defining… the SME is able to identify what really makes them different at that precise moment in time – accepting that, when one of the 12 changes… so does the DSP. The point of this article? USP is dead – long live dynamism!

t Quicker access to senior management t Greater personal responsibility for

customer satisfaction

t Ability to partner with the customer in

developing new ideas

Neil Fogarty is an international speaker, business writer and consultant.

Currently running his 12th company, Neil has written about his experiences in the books “Kill Your Salesman” and “#CrackOn”. For further details you can check him out at www.neilfogarty.com

Kill it – don’t be so precious about it!

Your selling points are dynamic – they form quickly, they evolve continually… and sometimes they die. Don’t be so restricted by the DSP – after all, it is dynamic

In one of my corporate effectiveness workshops, I invite the delegates to identify the differentiators of a small business and then explore how this can be turned to their advantage. Usually, the list includes: t Bringing greater competition to

the marketplace

t Having smaller administrative overheads and management costs t Bringing innovation AUGUST / SEPTEMBER 2013

27

ENTREPRENEUR

THE PERFECT FIT

Designing timeless modern pieces for today’s women 28

AUGUST / SEPTEMBER 2013

A

mal Al Mulla has just launched her second collection but has carved a niche for herself in the fashion industry of the Kingdom. Unique designs, which represent the free spirit of a wild flower, are the order of the day for their Summer Collections. We find out more.

Tell us about brand ‘Amal Al Mulla’.

Amal Al Mulla is a Ready to Wear fashion label that promotes innovation & is close to the heart. It was launched a year ago after I graduated with a BA in Fashion Design, starting with our first winter collection.

The brand’s Co-founder Maha Al Mulla, who also happens to be my sister, has been a strong support right from day on.

Our brand basically focuses on bridging the gap between luxury clothing and contemporary fashion. Every collection is stemmed out of a storyboard, a visionary idea that is interpreted through the chosen fabrics, prints and details that has been put into every piece. Our designs are flawless, refined and timeless modern pieces for today’s women.

Tell us about your background training and experiences that allowed you to become a designer.

My mother and grandmother’s knack for fashion is where our love for it all started, I must say. If it weren’t for those long days of watching them style themselves so effortlessly and going through their hidden fashion gems and their fine wardrobe pieces as little ones,

we wouldn’t have been so inspired to be who we are and do what we love to do today.

We of course, grew up knowing that a part of us have always wanted to dive into the fashion industry. I personally ended up studying fashion design back in university and took part in as many fashion related activities as I could, between all the studies. Having graduated with a good background and knowledge in design, I knew I wanted to start up a brand of my own right away and build it up from there, and that is when I teamed up with Maha to start this label.

You have just launched your latest collection.

Let us in on that.

We’ve come up with a concept of creating exclusive collections for each season. Our latest Exclusive Summer collection has definitely gone into a different direction than our previous one. This season it’s all about rich colors and luxurious textures for us. Our inspiration for this one was weaved from the free spirits of a bed of wildflowers. The designs are all created as a visual representation that balances out the strength and independence of the wild-hearted nature. A portrait of feminine sensibility with a touch of masculinity all in one, we designed a collection with a luscious palette, whimsical prints and details that is right on time and fresh for summer.

What has been the toughest challenge you have faced?

The whole process of building up our brand has been a challenge, in a good way of course. I always say that there was nothing tougher than the start. It was always the start up plan that got us the most anxious through it all, though there will always be a few obstacles to face when dealing with certain things whether in the design process, the production process or the business process.

Nevertheless, it’s never something to shy away from as we take whatever challenge comes our way as another way to push our brand forward.

What is the most exciting aspect?

Every collection is an exciting aspect to us in the business. It starts off, as a small spark of excitement when a new idea and vision comes of how we want our next collection to be, then grows bigger as each collection progresses. From the brainstorming to the design stage to the final production, it’s always a rush as something new comes up; to make it all happen, even up to the day we finally get to showcase and launch our work to the public, excitement in our work atmosphere never really ends, it’s always something important to have and a drive to keep us going and loving what we do.

How can customers ind out more about your designs?

Our collections are all up on our site www.amalalmulla. com. We have a stable social media platform on Facebook, Instagram and Twitter to keep our customers updated. Our latest Exclusive Summer collection will soon be provided for online purchase on www.

Fashlink.com

What are your thoughts on the fashion design industry in the Kingdom?

It’s always evolving. If I were to compare the fashion scene in Bahrain from back when I was still studying fashion at university and now, there is definitely a big difference; it’s always great to see how aware people are nowadays regarding fashion in our kingdom, a lot of fashion events are taking place, people are converting trends and fashion into their own, experimenting with it and appreciating it. It definitely pushes Bahrain up a notch and inspires me as a designer to create and continue doing what I love to do, to design.

Any advice to young entrepreneurs in the Kingdom?

To always keep going and never give in to hardship. If someone has a dream, there’s no bigger way to achieve it than to believe that you can. There will always be obstacles and disappointments that will come in the way, but there will always be something greater, there will always be success, if you work hard on what you want and always believe in yourself no matter what. And getting that is worth much more than not trying.

What’s next?

At our studio, we are working hard on our next collection.

As a brand, definitely to reach the goals we have set for ourselves from the very beginning and to expand regionally and internationally.

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29

ENTREPRENEUR

A SHOT OF

SHARBAT Enjoy A Delicious Sip of Tradition

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M

aryam Sameer Shakeeb was always passionate about cooking and wanted to launch a business that would combine her skills with her heritage and that is where the idea of Sharbat was born.

She tells us about her journey so far.

Tell us about your company.

Sharbat is a local Bahraini business, which made its debut in early 2013 at the Bab Market. Sharbat is about bringing our old traditional heritage and giving it a bit of new twist.

We specialize in producing drinks, which are essentially traditional, but with a modern touch. It’s all about mixing the past with the present and presenting our products in an attractive way. We came up with drinks such as Ice Tea Bahraini, Loomi (Lemon), Ateej (Old) and much more. And to make things interesting, we add the choice of toppings to our drinks that are mainly made of fresh fruits.

How has the start up journey been?

As a young Bahraini individual, I always wanted to be independent and have a business of my own.

While I was trying to finalize a business idea, I decided it would be best to keep it in the realm of something I know well: cooking. So I launched a small baking business, which also served

some of these drinks. I noticed that the drinks were a great success, and so I decided to expand on that. With the support of my lovely family, friends and customers, I was able to successfully kick-start a unique new business.

What makes Sharbat unique?

Sharbat is unique in its own way; we attract our customers by giving traditional names to our drinks, which customers can actually relate to.

Sharbat also allows you to choose your flavor and add your own topping to spice up your drink!

We also present our stands/stalls in a very attractive way to attract our lovely customers, we use old black boards and we write down our daily menus and some attractive traditional Bahraini slang words to keep our customers interested in our way of presenting our products.

Being in the food business can be tricky. How do you manage?

We make sure that we use fresh ingredients in all of our drinks; this is to ensure great taste, rich flavors and freshness! We also ensure that all of our equipment are perfectly maintained and hygienically taken care of and are sterilized on daily basis.

What has been the biggest challenge so far?

At Sharbat, we hate disappointing our customers. I have had days that we had to run two events in the same day, same time frame and this was a huge challenge for me, but I was blessed to have friends and family that supported me along the way.

What has been the most exciting aspect?

The best thing about Sharbat is getting the positive feedback from the customers, because the most important part of Sharbat is having satisfied customers and if they are happy you will be able to improve and expand your product more.

How has the response been so far?

I have been getting a lot of requests to participate in events, exhibitions and even personal family events, which give me an idea that things are going well. My customers keep asking me about my next events and they are following my latest news, which also gives me motivation to participate more and please them.

How can customers find out more?

I try and increase my visibility by participating in as many exhibitions as I can. And word of mouth publicity has got us a lot of new customers as well. I try and market my products on social media platforms such as Facebook, Instagram and Twitter.

Any advice for young entrepreneurs?

Never Give up, Keep dreaming.

Be Creative, Don’t Copy.

What next?

Keeping in mind the constant increase in customer demand, my next step, hopefully, would be to open my own sharbat cafĂŠ. We will continue to study and research to bring a new variety of local drinks and keep our local customers always satisfied.

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31

STAYING AHEAD OF THE TRENDS

POWDER CLOSET Owning Unique Pieces Made Easier

32

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ENTREPRENEUR

R

awia Rashid Bucheeri is a true blue fashionista. Right from a young age, she has loved dressing up and dressing her family and friends. She uses her skills and her eye for exquisite designs to launch the Powder Closet, a one-stop shop for the best the fashion world has to offer. She tells us about her journey so far.

What is the Powder Closet all about?

It is about creating unique trends and not following fashion blindly; it’s about owning a one of a kind piece, shopping without having to worry that you will meet someone else that is wearing the same outfit as you. I use my expertise and knowledge to get unique outfits, from which you can choose what suits you best and we will my taste delivered right to your doorstep.

What inspired you to launch the business?

I was the kind of little girl who used to create her own fashion show in the living room, which included heart shaped sunglasses and my mother’s heels. As I grew up, my passion for fashion grew as well. My friends and family were always pushing me to put my passion to good use, and I thought why not! Powder Closet is my first step to sharing my passion with the world.

Tell us about pieces that are sold by Powder Closet?

I’m fairly selective in picking out the pieces. I take pride in that, because my collection is limited and it’s intentionally kept that way. I do sell items that I wouldn’t necessarily wear or that wouldn’t fit nicely on me, keeping in mind the tastes and wardrobe needs of different kinds of women. While most of our pieces are affordable, we do have a more exclusive designer range as well.

What sets Powder Closet apart?

Creating a business that stands apart in the fashion world can be extremely challenging.

Originality, offering a long lasting quality and paying attention to detail are what set our collection apart.

How can people contact you?

“It is about creating unique trends and not following fashion blindly; it’s about owning a one of a kind piece”

Is online sales a phenomenon that people in the Kingdom are comfortable with?

What has been the toughest challenge so far?

Apart from our shop, we have a strong online presence. We have just launched our website, www.powdercloset.com and like all new businesses, we are very active on social media like Twitter, Facebook and Instagram.

Yes, some customers do have the ability to choose all they need online. At Powder Closet, we have regular customers from other countries who shop online.

We, of course, do have those customers who prefer seeing and trying on the actual pieces at the store.

There have been many intense moments during the past year that I have been in this business, but I do believe that once challenges stop, it means that means you stop improving.

What has been the most exciting moment?

What plans for the future?

I have been to the London College of Fashion and I have seen that styling is definitely becoming an important branch of study in the fashion world internationally, so I will be getting more into that; along with expanding Powder Closet collection with unique pieces from different creative designers.

Any advice for those who aim to become an entrepreneur?

Always keep in mind a few things: Originality, enjoying what you do, dedication and being aware of the responsibility that comes along with being an entrepreneur.

In our journey so far, I’d pick the first time a recognized designer approached us to distribute their collection in Powder Closet.

AUGUST / SEPTEMBER 2013

33

8 TIPS TO FRANCHISE YOUR SMALL BUSINESS

by Tom Cannon

I 34

f you have a small business that can be easily replicated, then franchising may be one of the best ways to expand it at a fast pace. And if you tackle it the right way, you can certainly pump up your profitability.

JULY / AUGUST AUGUST / SEPTEMBER 2013 2013

4

BUILD AND P PROTECT YOUR BRAND. As a franchisor, your most va valuable asset is your brand; protect it at all cos sts. Your bravnd represents your culture, your beliefs and costs. yo our attitude tow your toward your customers. When you franchise, yo ou are giving new people the ability to represent your you bra and. This is one of the biggest risks of franchising. Clear brand. gu uidelines should be established for the use of all of the guidelines bra and assets. You want to be sure that you are sending one brand cle ear message from one clear source, and that message is clear con nsistent through consistent throughout the organization. No detail is too sm mall. This can se small. seem overbearing, but never let anyone us usee your brand as assets in any way, no matter how small, wi ithout your prio without prior approval. Monitor everything, pay close att tention to video attention videos and pictures, and monitor all social me edia outlets in a regular and detailed fashion. media

5 Here are eight g tips to help you through the transition:

1

GET ORGANIZED. Think through the process of precisely how your business works.

Franchisees will need exact details and guidelines to get their businesses up and running. This process takes some time, but it’s worth it — even if you decide not to launch the franchise option, this will still ultimately help your business run more smoothly.

From marketing to signage to business cards to staff training, it all has to be executed in a similar manner. Develop an operations manual to give franchisees a quick way to reference policies and best practices and create an approval process so that you sign off on major decisions.

2

HIRE AN ATTORNEY. Getting expert advice is really crucial during the franchising process. For starters, you’ll need to fill out a Franchise Disclosure Document. It has a very distinct format you need to follow, and it’s important to have a lawyer walk you through this process. You’ll need to set pricing, create a franchise agreement and determine intellectual property protection. (In addition to meeting with an attorney, the International Franchise Association also has some excellent resources.)

CHOOSE TH THE RIGHT LOCATIONS. What locations make the mo most sense for your business? Where do you have recognition already? Consider keeping your ha ave brand recogn fir first st few locations close to home, but far enough away that it d doesn’t hurt sales sal at your initial location. That way, you can n manage logistics logist easily. Keep in mind you’ll want to visit locations in person from time to time, so choose vis sit these location locations easy access to an airport. loc cations with eas

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FIND A MENTOR … Or two or three. There will always be people who are willing to give you advice — you just need to seek them out.

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KNOW HOW YOU WANT TO GROW. Steady, strategic growth is ideal. Does it make sense to expand on an international level?

Or should you stick to a statewide plan?

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SUPPORT YOUR FRANCHISEES. At first, you’ll need some face time with your franchisee franchisees, as well as lots of time online and via phone. Do all you can to encourage them by celebrating victories and mile milestones. Scour through articles that you find helpful and share them. And last but not least, set up a way for franchisees to communicate c with one another, too.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs.

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BE PICKY. Just like dating, you should be extremely selective when it comes to choosing franchisees. It’s easy to find people with capital, but are they the right people? Do they have the right background in order to run a business? This is someone who will be representing you, so it needs to be a good fit. After all, you are in this to protect and grow your brand. Set up an interviewing process and know what your deal-breakers are.

Tom Cannon is the CEO and cofounder of BungoBox, an Orlando-based company that rents moving containers made of recycled plastic as an alternative to cardboard boxes. Founded in 2009, BungoBox now has 21 locations in the U.S. and Canada and plans to open 150 more franchise locations in the next five years as part of a steady and strategic growth strategy.

AUGUSTJULY / SEPTEMBER / AUGUST 2013

35

No More Time CRUNCH! 9 LOW-TECH WAYS TO MANAGE YOUR TIME MORE WISELY

As entrepreneurs, we’re always busy. But where does it end?

When you get more successful, do you think your schedule will magically get less busy and fill up with fewer obligations?

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T

hink again. Instead, you’ll have to get more done in less time. And unless you have a system, it may prove difficult.

Now, there are tons of apps, online tools and time management methods out there, but it wasn’t until I began experimenting with more nontraditional, seemingly archaic means of managing my time that I truly began to harness the full power of time management.

Everyone is different, and not all of the strategies that work for me work for everyone else. But here are 9 unconventional tips that have helped me manage my time far more effectively:

1

Ditch the smartphone and use a paper and pen. Just because a method is more technologically advanced does not necessarily make it more effective. In my opinion, nothing beats a good old-fashioned notebook and pen — it’s clunky, annoying, inconvenient and therefore difficult to ignore. I could always place my smartphone in my pocket, and I often do. Unless I’m wearing some sort of MC Hammer-style parachute pants, I can’t put my to-do list notebook in my pocket – nor should I. The annoyance factor is what makes it so powerful.

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Use a to-do list template. Since your end goal is to manage your time more effectively, it would be ridiculous to spend a ton of time writing out your most common to-do list items each day. I created my own to-do list template which includes all of my daily tasks. This ensures I don’t spend time writing them down, and I can schedule them in with my more unique tasks that I only have to perform today.

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Include even the most menial tasks. On your list, you should include every single solitary thing you do during the day that takes up time.

Seriously. I’m talking meals, working out, taking a shower and calling your mother. This is not a business task management list, this is a time management list. If you spend time on things you think you’ll remember on your own, include it.

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Prioritize your list items. The order in which you perform necessary tasks is where the magic happens. Think about the most optimal order in which you can accomplish your tasks — you can often squeeze three or four things into the same amount of time that it would otherwise take you to accomplish just one.

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Start your list with 5 small, easy tasks. The Brian Tracy acolytes are going to hate on me for this one. I’ve never been a big fan of completing your largest task first. Or second.

Or even third. Say I’ve got a long list of 35 items I need to perform on a given day (which is common). Then, let’s assume my three largest list items take an hour each (which, again, is common.) That means three hours into my day, I look down at my list and I still have 32 list items that have yet to be completed. This becomes very intimidating and, in my experience, makes it far less likely that I’ll complete everything on the list that day. However, if I decide to start my day with five quick, simple tasks before tackling my first large list item, I look down at my list about an hour later and I’ve already made a dent. I feel

like I’m on a roll, and I’m more likely to ramp up my productivity for the day.

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For every big list item, perform 3-4 small list items.

As an extension of the previous tip, I advocate performing at least three or four simpler list items for every long, arduous one.

This not only continues to release endorphins at a more rapid rate – which happens every time I check something off a list and boosts my mood – but it also makes it seem like I’m burning through a larger percentage of my list more rapidly.

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Include a project management grid. Your to-do list not only serves as a way to manage your time during a specific day, but it also keeps you organized and productive across all your projects. If you’re an entrepreneur, juggling multiple projects is often a challenge, and that’s why most people assume it’s more productive to focus on only one project at a time. I disagree with this assumption. I think that you can truly be more productive by juggling multiple projects — if you manage them all effectively. Include a grid on the back of your to-do list devoted to project management, displaying every project in terms of phases of development (i.e. brainstorming, outlining, development, testing, etc.). I prefer one with a similar structure and rules to what Eric Ries recommends in The Lean Startup, but feel free to experiment.

8

Use shorthand.

I use my own form of shorthand to populate my to-do list. To a third party, nothing would make sense. But you’re the only one who uses your list, so use whatever form of shorthand you like. It’s quicker than writing everything out in full, and every second counts.

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Make tomorrow’s list before today ends.

Before I sleep each night, I take a few minutes to make tomorrow’s list. I’ll take anything I didn’t accomplish today and push it to tomorrow, and add new list items in where necessary, based on what tasks I need to perform next. I’ll also then number my first dozen items so I have some direction on what to dive into first.

Travis Steffen is the founder of WorkoutBOX, ActionJunkie Labs, and a ton of other online startups. Travis is also the author of The Art Of The Hustler, and star of the upcoming reality show, Pushing The Limit. Find him on twitter - @TravisSteffen.

AUGUST / SEPTEMBER 2013

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10 GREAT PRODUCTIVITY APPS FOR ENTREPRENEURS

AT THE CLICK OF A BUTTON

Getting more done throughout your day isn’t simply a matter of sitting down and working harder. Instead, being more productive requires that you work harder on the right things, in addition to tackling them as efficiently as possible. Fortunately for entrepreneurs, there are plenty of apps out there that will help to both organize an overwhelming workload and provide the motivation needed to get things done.

The following are 10 of my favorites

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EVERNOTE: The beauty of Evernote (which is available for free in Web, iOS and Android versions) is that it can be whatever you need it to be. Need a simple place to store notes or track thoughts as they occur? Evernote has you covered.

Want to set up a complete David Allen-style “Ge ng Things Done (GTD)” environment inside the program? Evernote can do that too.

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DROPBOX: As with Evernote,

it probably isn’t a surprise to see Dropbox on a list of recommended produc vity apps. The program’s value has been pre y well-established, all though chances are good that, even if you do have this program installed on your computer or mobile device, you s ll aren’t ge ng as much out of it as you could. To expand your usage, check out Macworld’s ar cle on “62 Things You Can Do With Dropbox” (many of which work no ma er what pla orm you’re using).

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LASTPASS: In an age of digital

insecurity, forming secure passwords is an absolute must – but who has me to remember all those different combina ons of le ers and numbers? If you struggle to keep your online accounts secure, Lastpass can help by genera ng, storing and automa cally recalling strong passwords for all of your Internet logins. It’s free to use on both PCs and Macs, though you’ll pay $12/year to have the premium version available for download to your mobile device.

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REMEMBER THE MILK:

Remember the Milk (RTM) is a widely-used to-do list management program that’s worth a look if you’re having trouble tracking your tasks. It’s highly flexible and easily customized – and can even be used to implement a GTD-style

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system. The Web version and basic iOS and Android apps are free to use, though daily syncing will run you $25/year.

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WUNDERLIST: If RTM lacks in any one area, it’s visual appeal. So if you’re a more graphically-inclined entrepreneur, take a look at Wunderlist – a perpetual favorite on lists of the best “to do” trackers. The program is easy to navigate and can be used to quickly and efficiently track important tasks from within its free desktop, Web, iOS and Android versions.

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THINGS:

Although Things is only available on Macs and within Apple devices, it s ll warrants a men on on this list, given how intui ve the program is to use. While some users find that the RTM interface has a learning curve to fully u lize, Things makes it easy to start tracking “to do” items as quickly as possible. And, as an added bonus, it’s totally free to use!

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INSTAPAPER: Coming across

interes ng ar cles is one of the best parts of the Internet – and one of the worst things for your overall produc vity levels. Instead of reading through new posts whenever you encounter them, save them to your Instapaper account. Your selected Web pages will be automa cally saved for later browsing, when they’ll be displayed in a reading-friendly format for free on your computer, iPhone, iPad or Kindle.

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YAST: Nearly all professionals

can benefit from some type of me-tracking program – whether this type of tool is used to report billable hours back to customers or to simply measure how working hours are being spent. Yast provides an incredibly easy-to-use solu on (just press

the “Play” bu on to start tracking me to a specific account) that’s free to use for personal me tracking. Business accounts for en re teams are available as well, star ng at $14/user per month.

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FOCUSBOOSTER: Plenty of entrepreneurs use the Pomodoro Technique (which alternates 25-minute long working blocks with short breaks) in order to maintain sustainable, long-term produc vity. And while there are plenty of different Pomodoro mers out there, one of my favorites is the Focusbooster App. It’s free to use and provides a simple way for business professionals to stay focused over long periods of me.

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LEECH BLOCK: If

you find that the Pomodoro Technique alone isn’t enough to maintain produc vity (which – let’s face it – isn’t that much of a challenge in today’s digital world of easily-accessible distrac ons), you may need to call in the big guns. In this case, you need Leech Block – a Firefox add-on that allows you to lock down specified websites. It’s easily customized to suit your unique working habits, and even provides a helpful reminder to get back to work when you stray to one of your blocked sites.

Sujan Patel is the founder and CEO of Single Grain, one of the top Digital Marketing agencies in San Francisco, CA. With more than 10 years of Internet marketing experience, Sujan leads the digital marketing strategy for companies like Sales Force, Yahoo, Intuit and many other Fortune 500 caliber companies.

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39

BAHRAIN’S

BANKERS Key Players in the Banking Industry of the Kingdom of Bahrain

BAHRAIN HAS ONE OF THE MOST VIBRANT BANKING SECTORS IN THE REGION, AND ONE OF THE KEY FACTORS THAT SET’S BAHRAIN’S BANKING BIZ APART IS THE PEOPLE. THE INDUSTRY IS RUN BY A NUMBER OF INDIVIDUALS WHO ARE PASSIONATE ABOUT MAKING BAHRAIN THE FINANCIAL HUB OF THE REGION. WE TAKE A LOOK AT SOME OF THE KEY PLAYER’S IN BAHRAIN’S BANKING INDUSTRY. (BANKS IN ALPHABETICAL ORDER)

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BANKING

Fahad Al-Rajaan

Khalid Rashid Al Zayani

Chairman Ahli United Bank

Chairman Al Baraka Islamic Bank

Fahad Al-Rajaan has been a Director since 2000, and apart from being the Chairman of the Executive Committee, he is also the Chairman of the Compensation Committee.

An alumni of the American University of Washington, he holds a BA in Business Administration. He has held a number of key posts during his illustrious career including being the Director General of The Public Institution for Social Security (Kuwait); the Chairman of Ahli United Bank (UK) plc; the Chairman of Wafra Investment Advisory Group (New York); A Board Member of National Industries Group (Kuwait) and the Chairman, Ahli United Bank (Egypt) S.A.

Apart from being the Chairman of Al Baraka Islamic Bank, Mr. Al Zayani is also the chairman of the family firm, Al Zayani Investments, which holds interests in a wide range of sectors such as automotive, healthcare, manufacturing, real estate and services. In addition, Mr. Al Zayani is a founding member of the American Chamber of Commerce in Bahrain and of the Bahrain British Business Council, and a board member of the US-Bahrain Business Council, International Chamber of Commerce, Bahrain National Committee, American Bahraini Friendship Society, Bahraini Moroccan Business Council, Bahrain India Society, Bahrain Technology Transfer Society, and Bahrain British Business Forum.

He holds a Bs. Business Administration from the London University, United Kingdom.

ADEL EL – LABBAN

MOHAMMED AL MUTAWEH CHIEF EXECUTIVE OFFICER AL BARAKA BANK

Adel Mohamed Abdelshafe El-Labban serves as Group Chief Executive Officer and Managing Director of Ahli United Bank (BSC) and Ahli United Bank Egypt S.A.E. Mr. El-Labban has also served as Chief Executive Officer of the United Bank of Kuwait PLC, the Managing Director of Commercial International Bank of Egypt, the Vice President of Corporate Finance of Morgan Stanley and the Chairman of Commercial International Investment Company, among other key positions. He has been a Director of Bahrain Association of Banks since March 2013 and as a Director of Bahrain Institute of Banking & Finance (BIBF). He holds a Masters in Economics from the American University, Cairo, Bachelors in Economics from American University, Cairo and a General Certificate of Education from London University.

Mohammed Al Mutaweh is the CEO and Board Member of Al Baraka Islamic Bank - Bahrain, Chairman of Credit Committee and Member of Executive Committee. He has over 25 years of experience in the banking industry.He has previously held several senior positions, such as the GM and Board Member of Al Amin Bank, Bahrain, Chairman of Credit Committee and member of Executive Committee of Al Amin Bank, Executive Director in ABC Islamic Bank. He is also a member of the World Union of Arab Bankers and of the participation committee of the Awqaf Properties Investment Fund of Islamic Development Bank, Jeddah & on the board of directors of Bahrain Association of Banks and a member of Bahrain Advisory Council of the Chartered Institute for Securities & Investment (CISI), UK. He holds a Bsc. in Business Administration from University of Bahrain and an MBA from University of Hull, UK.

ABDULLA AL-RAEESI

RASHID H. ALALAIWI

GROUP CEO - RETAIL BANKING AHLI UNITED BANK

ASSISTANT GENERAL MANAGER FOR RETAIL BANKING AND DOMESTIC BRANCHES, AL BARAKA BANK

GROUP CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR, AHLI UNITED BANK

Abdulla Al Raeesi heads the retail banking division of the bank and he is also a Member of the Board of Directors and Member of Audit Committee & Policies and Procedures Committee , Legal and General Gulf B.S.C.(c) & Legal & General Takaful B.S.C.(c) Bahrain since March 2009. Some of the key positions he has held include being the former Director of the International Chamber of Commerce, Bahrain and the Former Director, Benefit Company, Bahrain.

With a number of years of experience in the banking industry, Rashid H. Alalaiwi thoroughly enjoys the challenges of being the Assistant General Manager for Retail Banking and Domestic Branches for an ever-expanding bank like Al Baraka Bank. The operations in all branches of the bank come under his purview.

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HH Shaikha Hessa bint Khalifa bin Hamad Al Khalifa Chairperson Al Salam Bank

An active member of the royal family of the Kingdom of Bahrain, H.H. Shaikha Hessa has been part of the Al Salam Bank Family since its inception as the Chairperson and an independent and non-executive Director. She joined the Supreme Council for Women in 2001 as a member of the Social Committee and since 2004 she has been a Permanent Member of the Council’s Board.

In 2005, she founded ‘InJaz Bahrain’ and is presently its Executive Director. She holds a Bachelor’s degree in Management and a Master degree in Social Policy and Planning, both from the London School of Economics and Political Science. She also gained a MSc Development Finance from University of London.

YOUSIF ABDULLA TAQI

ABDULKARIM TURKI

DIRECTOR & CHIEF EXECUTIVE AL SALAM BANK

HEAD O RETAIL BANKING AL SALAM BANK

A Certified Public Accountant (CPA), Mr. Taqi has been active in the banking and financial services industry since 1983. During his career, Mr. Taqi worked in leading positions for a number of institutions in the Kingdom of Bahrain.

Prior to joining Al Salam Bank-Bahrain, he was Deputy General Manager of Kuwait Finance House (Bahrain), where he was responsible for establishing Kuwait Finance House Malaysia. Prior to this, Mr. Taqi spent 20 years with Ernst & Young, during which time he provided professional services for many regional and international financial institutions. During his career with Ernst & Young, Mr. Taqi was promoted to Partner, responsible for providing auditing and consultancy services to the Islamic financial institutions. He is currently the Chairman of Manara Developments Company B.S.C. (c), Amar Holding Company B.S.C. (c) and a director of ASB Biodiesel (Hong Kong) Limited, affiliates of ASBB, and also a board member of Al Salam Bank-Algeria, Aluminium Bahrain (ALBA) and Tadhamon Capital.

Mr. Turki is a well-rounded banker with more than 30 years’ experience. He joined Al Salam Bank-Bahrain in 2006 as Senior Vice President, Head of operations. He was heavily involved in the incorporation and structuring of the Bank and the Operation Department. He was appointed as a key member in the Selection and Implementation Committee of the Bank’s core banking system in addition to being a member in other Bank’s committees such as Basel II, Bank Asset Liability Committee (ALCO) and the Public Relations Committee (PRC). Prior to joining the Bank, he held the position of Vice President - Head of Treasury Support Operations at Citibank Bahrain, where he gained his experience through the occupation of several managerial positions heading different departments and units. He was also involved in the launch of Citi Islamic Investment Banking as he was responsible for formulating all operational procedures, devising the chart of accounts and products accounting. Mr. Turki holds an MBA in Investment & Finance from University of Hull, UK.

Ameen Husseini Country Manager Arab Bank PLC

Amin Rasheed Said Husseini has been Country Manager of Bahrain and Executive Vice President at Arab Bank plc since March 2009. Mr. Husseini is managing the retail bank in Bahrain as well as the Offshore Banking Unit which has regional responsibilities and client coverage.

He started his career at Arab Bank plc and served as an Executive Vice President and Head for Financial Institutions and Transactional Services.

He serves as Vice Chairman of Turkland Bank Anonim Sirketi. He has been Director of Oman Arab Bank, SAOC since May 2010. He is a graduate in Physics from Yarmouk University, Jordan. He holds an MBA from Fort Hays State University, USA.

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BANKING

Shaikh Mohammed Bin Essa Al Khalifa

Abdul Razak Abdulla Hassan Al Qassim

H.E. Shaikh Mohammed, the Chairman of the Bahrain Development Bank was appointed as the Political and Economic Adviser to HRH the Crown Prince’s Court in 2012. He served as Chief Executive of the Economic Development Board of Bahrain from 2005-2012 and was responsible for ensuring the continued growth and stimulation of the Bahraini economy. He is also the Chairman of Organizations such as Tamkeen, Bahrain Polytechnic, The Young Arab Leaders’ Bahrain chapter and Capital Club, Bahrain. He holds a Bachelor’s degree in Economic Theory from the American University in Washington D.C. and a Post Graduate Diploma in Business Studies from the London School of Economics.

Mr. Al Qassim, who is the Chairman of the Bahrain Islamic Bank, is also the CEO of National Bank of Bahrain. Apart from these two, he holds a number of other prominent posisions such as being the Chairman of Benefit Company; Deputy Chairman and Chairman of Executive Committee of the Arab Academy for Education and Research; Board Member and Chairman of Executive Committee Member of Bahrain Telecommunication Company and Board Member of Umniah. He has a Master’s degree in Management Sciences and a Sloan Fellowship from MIT (Massachusetts Institute of Technology, USA).

Chairman Bahrain Development Bank

NEDHAL SALEH AL AUJAN CHIEF EXECUTIVE OFFICER BAHRAIN DEVELOPMENT BANK Mr. Al Aujan is a career banker with an extensive experience of 29 years in all the facets of banking and held senior positions in different domestic and international banks. He joined Bahrain Development Bank in 2000 and became the Chief Executive Officer of the Bank in 2007. He is a Member of the Board of Directors and Chairman of Audit Committee of Venture Capital Bank. He is a Director of Retail Arabia, Bahrain Atomizers International, Bahrain Specialist Hospital, Joslin Diabetes Center, Bahrain Business Incubator Centre, Batelco, and Dun & Bradstreet Same Limited.

ADNAN MAHMOOD AL BALOOSHI DEPUTY GENERAL MANAGER, BANKING SERVICES BAHRAIN DEVELOPMENT BANK Adnan Mahmood Al Balooshi has over 31 years of experience in the banking industry. He joined Bahrain Development Bank in 2005. He has previously worked with Bank of Bahrain & Kuwait, Al A hli Commercial Bank and Gulf Riyadh Bank in various capacities including Head of Credit Administration and Corporate Manager.

Chairman Bahrain Islamic Bank

MOHAMMED EBRAHIM MOHAMMED CHIEF EXECUTIVE OFFICER BAHRAIN ISLAMIC BANK Mr. Mohammed joined BisB in April 2007. He has been in the banking industry for over 30 years. He held several key management, executive and senior positions in various local and international banks and financial companies in Bahrain and abroad such as CrediMax, Bank of Bahrain and Kuwait, Saudi National Commercial Bank and Chase Manhattan Bank. He has several academic qualifications including an Executive Management Diploma from the University of Bahrain in 1993, MBA in Business Administration from the University of Glamorgan in Wales, UK, an Associate Degree from the Gulf Executive Management Programme from Virginia University, US and the General Management Programme from Harvard University, Boston.

ABDUL RAHMAN MOHD. TURKI GENERAL MANAGER, RETAIL BANKING BAHRAIN ISLAMIC BANK Mr.Turki began his banking career back in 1981 when he joined Grindlays Bank Ltd, Bahrain. He started in the Treasury and Investment Department where he spent 17 years before he was transferred to take senior posts in the Consumer Finance businesses and Business Development & Marketing. In 2001 he joined Commercial bank of Qatar in Doha. He was a founding member of the Islamic Banking window of CBQ Qatar (Al Safa). He holds a Masters Degree in Strategy & Scenario Planning from Strathclyde Business School Scotland; he also has many other qualifications in banking & finance, marketing and leadership, which he has acquired during the last 32 years in the banking industry through working in Bahrain, Oman and Qatar.

AUGUST / SEPTEMBER 2013

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Murad Ali Murad

Chairman Bank of Bahrain & Kuwait Murad Ali Murad started his journey in the banking sector over 40 years ago as the Treasury Manager at Citibank. He is a Fellow member of Chartered Institute of Management Accounting, London, United Kingdom. In addition to being the Chairman of Bank of Bahrain and Kuwait, he also holds the following positions: First Deputy Charman, Bahrain Telecommunications Company (Batelco), Deputy Chairman, Umniah Mobile Telephones Limited Private Shareholding Company, Board Member, Bahrain Kuwait Insurance Company and Chairman of the Board of Trustees, Human Resources Development Fund in Banking Sector.

ABDULKARIM AHMED BUCHEERY CHIEF EXECUTIVE OFFICER BANK OF BAHRAIN AND KUWAIT AbdulKarim Ahmed Bucheery has over 32 years of experience in the banking industry. He has been with the Bank of Bahrain and Kuwait since January 2002. He has always been a strong advocate of the fact that Bahrain is the regional hub for the financial sector. He holds a BSc in Economic Science from the University of Aleppo, Syria.

Sheikh Khalid bin Mustahail Al Mashani Chairman BMI Bank Apart from being the Chairman of BMI Bank Bahrain, Sheikh Khalid bin Mustahail Al Mashani is also the Chairman of the Board of Directors of BankMuscat S.A.O.G.; Deputy Chairman of Al Omaniya Financial Services Co.; and Chairman of Dhofar International Development & Investment Holding Co. S.A.O.G.. Sheikh Khalid is the Director of Dhofar Cattle Feed Co. S.A.O.G.; and the Chairman of the Board Risk Committee of BMI Bank B.S.C. (c), Bahrain.

He holds a B.Sc. in Economics and a Master’s Degree in International Boundary Studies from the School of Oriental and African Studies (SOAS), University of London.

JAMAL ALI AL-HAZEEM CHIEF EXECUTIVE OFFICER BMI BANK Jamal Al Hazeem, a veteran banker with over 32 years’ experience, is the CEO of BMI Bank having taken on the role in May 2010, with a commitment to build on the Banks strengths as well as deliver on its commitment to provide customers with unique and innovative financial products and services. He was earlier the Managing Partner of Arthur Andersen - Bahrain for 22 years before being appointed as the CEO of the Economic Development Board (EDB) - Bahrain in 2000. In his next role, he worked in Kuwait with The International Investor and returned back to Bahrain in 2007 to take on the role of CEO of First Investment Bank, a $200 million Sharia-compliant investment bank headquartered in Bahrain. He was recently appointed as the new Chairman of Gulf African Bank (GAB) the first and largest sharia-compliant Bank in Kenya. In addition, He also serves as the Chairman of leading Kuwaiti company Al Taameer Real Estate Investment Company and is a Board Member at several prestigious organizations including Nass Corporation and BMI Offshore Bank (Seychelles).

MOHAMMED MALIK GENERAL MANAGER - RETAIL BANKING DIVISION BANK OF BAHRAIN & KUWAIT Mohammed Malik has been part of the BBK family since August 2000. As the General Manager of the Retail banking division, all activities and promotions that help in expanding the retail sector, come under his purview. He holds a Bachelors in Computer Science from University of Petroleum & Minerals, Saudi Arabia.

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MAZEN SATER GENERAL MANAGER, RETAIL BANKING BMI BANK Mazen Sater, the General Manager of Retail Banking at BMI has 17 years of experience in the Banking Industry. He has been with the bank since 2010. He holds an MBA in Marketing & Change Management from DePaul University, USA.

BANKING

Mazin Manna Chief Executive Officer Citibank Bahrain Mazin Manna began his career with Citi in 1990 and has more than 22 years’ experience in the Middle East region both in terms of coverage and product including M&A, Corporate Finance, Corporate Banking, and Project Finance. Prior to his current position, he was Co-Head of ME Banking for Citi. Before moving to Dubai in Jan 2007, Mr. Manna held several positions at Citi Bahrain.

He was the CFIB Head until 2005 then Head of Corporate Finance/Corporate Banking-Gulf Region. He is on the board of InJaz, American Chamber of Commerce Bahrain (AmCham), Specific Council for Vocational Training (Banking Sector), Human Resources Development Fund, and Citi Islamic Investment Bank. He is also a former board member of the Bahrain Association of Banks (BAB). He holds a B.Sc. Degree in Economics, Special Field-Management Sciences from London School of Economics and Political Sciences - University of London, UK.

HUSSAIN AL-BALUCHI VICE PRESIDENT - BRANCH BANKING & WEALTH MANAGEMENT HEAD, CITIBANK BAHRAIN After graduating from Bahrain University in 1998, Mr. Al-Baluchi started his career in the Customer Service department of HSBC. In four years, he managed to reach a Branch Manager position, managing HSBC’s Muharraq branch. In 2005, he was chosen to head the newly opened main branch in Seef area. He joined Citibank Bahrain in 2006 as Head of Branches where he became the first Bahraini Vice President in Citibank Consumer Banking. In 2009, he started managing the Wealth Management business in addition to his role as Head of Branch Banking & Distribution Network. During this time, Wealth Management business reached a new peak, and he managed to bring the business to the highest level.

NADER MOOSA SENIOR VICE PRESIDENT - NATIONAL SALES HEAD & LOANS BUSINESS MANAGER, CITIBANK BAHRAIN Mr. Moosa joined Citibank Bahrain around 18 years ago. He is an MBA holder from University of Glamorgan in UK with exceptional people management skills. Mr. Moosa started his career with Citibank Bahrain as a Consumer Credit Analyst, which lasted for 4 years, and then he assumed the role of Policy Manager for another 3 years. He was promoted to Collection & Fraud Manager in 2002 and for the next 4 years, delivered exceptionally remarkable record performance before being promoted to National Sales Head and Loans Business Manager in 2006. In 7 years’ time, he frequently broke the record of highest ever sales for Bahrain and has been awarded twice on a regional level for driving Bahrain loans business highly profitable. Being a key player in growing Bahrain’s consumer business, Mr. Moosa was promoted in 2013 to Senior Vice President. Currently, he is the only Bahraini Senior Vice President in consumer business with more than 95 direct reports to him and is also acting as Consumer Banking Head backup.

Asghar A. Kanafani

Wael H. Ghazale

Country Manager Credit Libanais

Operations Manager Credit Libanais

Asghar A. Kanafani has been part of the banking industry for over 30 years.

He has worked in a number of markets in the region including Kuwait, Lebanon and Dubai. He took over as the Country Manager for Credit Libanais in 2011. He holds an MBA from University of New England and BSc from the Lebanese American University.

Wael Ghazale has 14 years of experience in the banking industry and has been part of the Credit Libanais family since 1999, when he started out as a teller in their Lebanon branch. He moved to Bahrain in 2007, and has been taking care of operations at the Bahrain branch since. He has a degree in Law and a BSc in Banking & Finance.

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H.E. Eng. Basim Yacoub Al Hamer Chairman Eskan Bank

H. E. Eng. Basim Bin Yacob Alhamer is the Minister of Housing & the Chairman of Eskan Bank. He was also appointed the Chairman of the Bahrain Tender Board in April 2011. Eng. Alhamer has over 30 years of experience and holds numerous distinguished positions including President of Customs Affairs. Since his appointment, he has been instrumental in enhancing the bilateral relations with other customs organizations on the regional & international level. He held the post of Assistant Undersecretary for Administrative Affairs at the Ministry of Interior prior to his appointment at Bahrain Customs. He is a member of the Board of Directors for the National Oil & Gas Authority (NOGA) & the Deputy Chairman of the Secretariat General for the King Fahad Causeway.

Eng. Alhamer has had an illustrious career with the Bahrain Defence Force until his transfer to the Ministry of Interior in 2005 & is a recipient of several medals of honor for his services to the Kingdom. He holds a Bachelor’s Degree in Civil Engineering and a Master’s Degree in Project Engineering from the University of Colorado.

DR. KHALID MOHAMMED TAQI GENERAL MANAGER ESKAN BANK Dr. Khalid Mohammed Abdullah Taqi is the General Manager of Eskan Bank. Prior to joining the bank, he was the CEO at Inovest Bahrain BSC. He has held many senior positions in the Banking & Finance Industry such as the ‘Chief Executive Officer’ at Reef Real Estate Finance Co. & as an ‘Assistant General Manager - Business Development’ in BBK. Dr. Taqi is actively involved in many projects promoting infrastructural development in Bahrain & is a member of many associations such as ‘The Public Affairs Committee’ at the Bahrain Chamber of Commerce & Industry & is a founding member of the Bahrain Economic Society & serves on the Board of Trustees of ‘MENA Investment Center’. He also held the post of Assistant Professor & Chairman of the Department of Economics & Finance at the University of Bahrain, in the recent past. He holds a Master of Science Degree in Economic Development from the University of East Anglia (United Kingdom) and a Doctorate of Philosophy in Economics from Exeter University (United Kingdom).

Gholam Souri

Chief Executive Officer & Managing Director Future Bank With over twenty years’ experience in the banking industry and a strong background in Islamic Banking, Gholam Souri joined Future Bank in 2004. Prior to joining Future Bank, he was the General Manager - International Division, Bank Saderat Iran.

He holds a Master of Banking Management and BSC in Banking.

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Matthew Deakin Chief Executive Officer HSBC Bahrain

Matthew Deakin is CEO of HSBC Bank Middle East Limited, Bahrain from April 2013. He was CEO of HSBC Korea from May 2009 to March 2013. He was an active board member of the European Chamber of Commerce in Korea, including chairing the European Banking Committee. He joined the HSBC Group in 1989 where he began in a Finance role before moving into the front office. He relocated to the Group’s Mexico representative office in 1992, initially in capital markets origination and later in corporate and commercial banking. With HSBC’s acquisition of Banco Internacional, S.A. (Bital) in 2002, he was placed as Head of Planning for HSBC Mexico and was closely involved in the integration and rebranding of Bital. Between 2006 and 2009, Mr Deakin was based in Panama, responsible for the integration of HSBC’s operation with its newly acquired Grupo Banistmo. He is an Associate Member of the Institute of Chartered Accountants in England & Wales.

SHAKOFA ASGHAR HEAD OF RETAIL BAKING AND WEALTH MANAGEMENT HSBC BAHRAIN Shakofa Asghar, the Head of Retail Banking and Wealth Management at HSBC Bahrain, and her team are continuously working to provide the best possible deals to their customers. Her numerous years of experience in the banking industry enables her to bring new innovations and promotions whch ‘illustrates HSBC’s commitment to delivering consistent and compelling value propositions for our customers’.

BANKING

Vikash Sharma Country Head ICICI Bahrain

Mr. Sharma has been the Country Head of Bahrain and Head – Wholesale banking – Middle East & Africa at ICICI Bank Ltd. since August 2010. He has over 15 years of experience in the banking industry and the oil sector. He moved to Singapore in August 2007 as head, corporate and institutional banking at ICICI Bank, Singapore. Mr. Sharma is a commerce graduate and a chartered accountant from the Institute of Chartered Accountants of India.

MANOJ SHARMA RETAIL BANKING HEAD ICICI BAHRAIN Manoj Sharma has over 18 years experience in the Financial Services Industry, and has worked in numerous markets including India, UAE, Oman & Qatar. Currently the Head of Retail Banking for ICICI’s Bahrain operations, he has also held numerous high positions including Head Business Development (GCC) - ICICI Prudential Asset management company and National Sales Manager – ICICI Bank, Merchant Services(India).

Iqbal Hasan Khanyari Country Manager Mashreq Bank The Country Manager of UAE bsed Mashreq Bank in Bahrain, Iqbal Hasan Khanyari has over 21 years of experience in the banking industry.

He has been part of the Mashreq Group for almost a decade and has been with the Bahrain Operations since 2010. A CFA, he also holds an MBA in Finance & Management from Quaid-e-Azam University in Islamabad.

HRH Prince Amr Mohammed Al Faisal Chairman Ithmaar Bank

HRH Prince Amr has more than 24 years of extensive and diversified experience in commercial and investment banking, executive management, architecture and engineering. He is a member of the Board of Supervisors of Dar Al Maal Al Islami Trust, Faisal Islamic Bank (Sudan) and Faisal Islamic Bank (Egypt) and Chairman of the Board of Directors of Al Daleel Information Systems. HRH Prince Amr is also Founder and Director of the Red Sea Bureau for Engineering Consultancy (Jeddah), Al Daleel Company For Information Systems (headquartered in Jeddah with sister companies in Tunisia, Sudan and Pakistan), Al Wadi Company For Trading Ltd. (Jeddah) and Amr Establishment for Marketing and Commerce. He is a fellow of the Saudi Association for Construction Societies, City Development and Clean Environment and a member of the Saudi Council of Engineers. HRH Prince Amr holds a Bachelor of Arts Degree in Architecture from King Abdulaziz University, Saudi Arabia.

MOHAMMED A. RAHMAN BUCHEEREI CHIEF EXECUTIVE OFFICER ITHMAAR BANK Mr. Bucheerei has more than 42 years of experience in accounting, commercial and offshore banking. He was appointed as Chief Executive Officer at Ithmaar Bank in July 2010 and has been a Member of The Ithmaar Board of Directors since March 2010. He is also a member of the Bank’s Executive Committee. Prior to his current appointment, Mr. Bucheerei was the General Manager of the Private Offices of HRH Prince Mohamed Al Faisal Al Saud, Saudi Arabia. His previous position was as the Executive Vice president, Shamil Bank of Bahrain. He currently serves on the Board of Naseej B.S.C.(c), Ithmaar Development Company, Ithmaar- Dilmunia General Partner Company Limited, Islamic Investment Company of the Gulf (Bahamas/Sharjah) Limited, Faysal Bahamas Ltd, Crescent International Limited, Bermuda, DMI (Jersey) Limited, MFAI (Jersey) Limited, Faisal Finance Luxembourg, Shamil Finance Luxembourg, Gulf Investors Asset Management Company, Saudi Arabia, Cantara, Faisal Private Bank (Switzerland) SA and Overland Capital Group, USA. He is an alumnus of the Gulf Polytechnic, Bahrain.

AHMED ABDUL RAHIM GENERAL MANAGER, RETAIL BANKING ITHMAAR BANK Mr Rahim has over 25 years of experience in the banking industry. He is a member of the Executive Committee of Shamil Bank and a member of the Board of Directors of Meezan Bank, Pakistan,First Leasing Bank, Bahrain and Ithmaar Development Company. He is also a member of the InJaz Bahrain Board of Directors. He holds an MBA from the University of Glamorgan, Wales (UK), and is an Associate in Financial Accounting from the Institute of Financial Accountants, London (UK). He also holds an Executive Management Diploma from the University of Bahrain and Advance Banking Diploma from the Bahrain Institute of Banking and Finance.

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Dr. Fuad Abdulla Al-Omer Chairman Khaleeji Commercial Bank

Dr. Fuad Al Omer, Chairman of Khaleeji Commercial Bank, has over 31 years of experience in the financial and commercial sector. He is also the Chairman of MENA Real Estate Company, Kuwait, the Vice Chairman of Gulf Real Estate Development Co., Saudi Arabia and the Director of Gulf North Africa Holding Company, Kuwait. He holds a Ph.D. in Public Administration from University of Leicester, UK, an MBA from University of Boston College, USA and a B.Sc in Chemical Engineering from Worcester Polytechnic Institute, USA. SILVAN VARGHESE COO & ACTING CEO KHALEEJI COMMERCIAL BANK Silvan Varghese has over 21 years of experience in the banking industry in India and Middle East in several areas like Risk and Credit Management, Compliance, Project Finance and Corporate Banking. He joined Khaleeji Commercial Bank in 2007.He is a Certified Financial Risk Manager (FRM) by Global Association of Risk Professionals (GARP) and holds a General Management Program (GMP) certificate from the Harvard Business School, an MBA from the Indian Institute of Management (IIM), Lucknow and B. Sc. in Chemical Engineering from BITS, Pilani, India.

FUAD ALI TAQI DEPUTY GENERAL MANAGER, COMMERCIAL BANKING KHALEEJI COMMERCIAL BANK With over 30 years of banking experience in Islamic and conventional banks, Mr. Taqi is well equipped to handle the bank’s operations, as the Deputy Gneral Manager for the Commercial Banking Division. He joined the Bank in 2006. He holds an MBA from the University of Glamorgan – United Kingdom and a Business Studies Diploma.

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Yaqoub Yousif Majed Chairman Kuwait Finance House Yacoub Yousif Majed, is the Chairman of Kuwait Finance House. He has over 30 years of experience in the banking industry. He is also the Vice Chairman of Gulf Diabetes Specialist Centre B.S.C. He began his career in 1976 working as Audit Manager at Talal Abu-Ghazaleh Price Waterhouse for two years. From there he joined the General Organization for Social Insurance (GOSI), where he dedicated thirty years until mid-2010 to the company and its continuous development. He held several management positions within the company, including Director of Accounts, Investment Manager, Assistant General Manager and most recently, as Acting General Manager of the GOSI. He has also been a board member of many prominent companies.

ABDULHAKEEM ALKHAYYAT CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR KUWAIT FINANCE HOUSE Abdulhakeem Alkhayyat is the Managing Director and Chief Executive Officer of Kuwait Finance House-Bahrain (KFHB), as well as the Chairman of the board for the two largest real estate projects in the Kingdom of Bahrain, Durrat Al Bahrain and Diyar Al Muharraq. He is also the Chairman of MenaTelecom. Mr. Alkhayyat is a regular speaker on a variety of topics including business and finance and frequently participates at local and international conferences. In 1997 he passed his Certified Public Accountant (CPA) exams from the State of California, and graduated from the University of Texas at Austin with bachelor degrees in both majors of Business Administration and Middle Eastern Studies.

KHALID AL MAARAFI EXECUTIVE MANAGER, HEAD OF BANKING GROUP. KUWAIT FINANCE HOUSE Khalid Mohamed Al Maarafi is an Executive Manager and Head of Banking Group at Kuwait Finance HouseBahrain. He holds a Bachelor’s degree in Accounting from the University of Bahrain, and is a Certified Public Accountant (CPA). He has been involved in the banking and finance industry and business management for over than 32 years. Mr. Al Maarafi is a vice-chairman at Capivest and the Chairman of Al Enma’a House for Real Estate. He is also non-Executive Director at the Boards of Directors of Durrat Al Bahrain and Family Bank. From 1999 till 2004, Mr. Al Maarafi held several positions at the Ministry of Finance and the Ministry of Industry in Bahrain.

BANKING

Hassan Bahzad

Regional Manager, Bahrain National Bank of Abu Dhabi As the regional manager for the Bahrain operations of National Bank of Abu Dhabi, Hassan Bahzad is committed to expanding its innovative offerings in the Kingdom.

The veteran banker has put on record that Bahrain is an integral part of NBAD’s international operations.

Ali Y. Fardan

General Manager, Bahrain National Bank of Kuwait Ali Fardan, who joined the Banking industry in 1980 has been the General Manager of National Bank of Kuwait SAK (NBK) Kingdom of Bahrain since 1990 and his major achievements include the restructure of NBK’s Conventional Wholesale Branch, the incorporation of the Conventional Retail Branch, the merger of both branches and the establishment of NBK’s Islamic Banking.

He has graduated from the University of Bahrain, attended various courses and seminars in different worldwide Universities and Institutions that has substantially enhanced his knowledge and widened his experience to become a multi task professional who is familiar with International Banking Practices and Regulatory Framework.

Farouk Yousuf Khalil Almoayyed Chairman National Bank of Bahrain Mr. Almoayyed is a non-independent and non-executive member, and was appointed to the Board in 1997.

He is also a member of the Nomination & Remuneration Committee. Apart from being the Chairman of National Bank of Bahrain, he is also the Chairman of YK Almoayyed & Sons, Al Moayyed International Group, Ashrafs, Bahrain Duty Free, Gulf Hotel Group, Ahlia University and National Finance House. He is on the Board of Trustees for Ibn Khuldoon National School and is a Director for Investcorp Bank B.s.c. and Bahrain Insurance Holding company.

ABDUL RAZAK ABDULLA HASSAN AL QASSIM CHIEF EXECUTIVE OFFICER & DIRECTOR NATIONAL BANK OF BAHRAIN Mr. Al Qassim joined NBB in 1977 after nine years with Chase Manhattan Bank and Standard Chartered Bank. He is also the Chairman of Bahrain Islamic Bank; Chairman of Benefit Company; Deputy Chairman and Chairman of Executive Committee of the Arab Academy for Education and Research; Board Member and Chairman of Executive Committee Member of Bahrain Telecommunication Company and Board Member of Umniah. He has a Master’s degree in Management Sciences and a Sloan Fellowship from MIT (Massachusetts Institute of Technology, USA).

ABDUL AZIZ ABDULLA AHMED GENERAL MANAGER – DOMESTIC BANKING GROUP NATIONAL BANK OF BAHRAIN Abdul Aziz Abdulla Ahmed who looks after the NBB group’s Domestic Banking Division has over 39 years of experience in the industry. He joined NBB in 1974 and assumed his present position in 2011. He is a member of asset/liability committee, Business review, development and planning committee and credit committee. He is also a Board member of Bahrain commercial Facilities Company and National Motor Company. He holds an executive diploma from University of Virginia, USA and he has also attended a number of training courses inside the Kingdom of Bahrain.

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DALAL ABDULLA

Hassan Jarrar Chief Executive Officer Standard Chartered Bank, Bahrain Hassan Jarrar was appointed as CEO of Standard Chartered Bank, Bahrain in December 2011. He joined Standard Chartered Bank in 2007 as UAE Country Head, Origination and Client Coverage. Mr. Jarrar has over 25 years of banking experience, 14 of which have been in the UAE. He has served as Senior Vice President and Head of Corporate and SME Banking at ADCB and Head of Corporate Banking, Abu Dhabi at Mashreqbank.

Before coming to the UAE, Mr. Hassan spent 20 years in the United States where he received his BSc in Finance from California State University. He also held various bank management positions with Security Pacific Bank and Bank of America in California.

HEAD OF SHARED DISTRIBUTION STANDARD CHARTERED BANK, BAHRAIN Dalal Abdulla is one of those people who have grown with the organization. She started out as a Sr. Credit Analyst and Fraud Prevention Officer in 2002 and has held various positions in various departments over the last decade including Head of Shared Distribution. Currently, she is the Head of Shared Distribution and prior to that, she was the Acting Head of the Consumer Banking Department. Dalal holds an MBA in Finance from AMA University.

KUBRA AGHAYAR HEAD OF SMALL & MEDIUM ENTERPRISES STANDARD CHARTERED BANK, BAHRAIN Kubra Aghayar joined Standard Chartered Bank, Bahrain in June 2011 as Head of the Medium Enterprises division. As of July 2013, Kubra was promoted to become Head of Small & Medium Enterprises (SME), where she is now also handling smaller companies under the SME umbrella. She has 21 years of banking experience. Prior to joining Standard Chartered Bank, she held relationship management posts with HSBC and Ahli United Bank in Bahrain. She holds a BSc (hons) in Financial Services from the University of Manchester, UK. She is also qualified as an Associate of the Institute of Financial Services (“Aifs”), formerly known as the Associate of the Chartered Institute of Bankers (“ACIB”).

Mohan Ganeshan

Fawaz Bataieneh

Chief Executive Officer State Bank of India, Bahrain

Country Manager The Housing Bank for Trade and Finance

Head of Retail Banking (Vice President)- Bahrain, United Bank Limited

Mohan Ganeshan started out at the State Bank of India (SBI) in various branches across India and has worked his way up the corporate ladder to become the CEO of SBI Bahrain. Prior to coming to Bahrain, he was the Regional Manager for SBI in Goa, India.

Mr.Bataieneh has been in the industry for 25 years, and all of those years have been at The Housing Bank for Trade & Finance.

He started out in their office in Syria, and then moved to Bahrain, back to Syria and Jordan before returning to Bahrain in 2011. He holds a BBA and MBA from the Texas Southern University.

Mr. Zubair has almost three decades of experience in the banking industry. He took over as the Head of Retail Banking for United Bank Limited, Bahrain in April 2012. He joined UBL in 2005. Prior to that he has worked at Faysal Bank and Union National Bank. He holds an MBA from the International University Missouri and a BCom from the University of Karachi.

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Mohammad Zubair

BANKING

THE MOST POWERFUL BANKER IN BAHRAIN The Bahrain Monetary Agency was established in 1973 shortly after Bahrain gained its independence from the United Kingdom. As per Decree No. 64 of 2006 with respect to promulgating the Central Bank of Bahrain and Financial Institutions Law, the Bahrain Monetary Agency is now the Central Bank of Bahrain. The Central Bank of Bahrain (‘CBB’) is a public corporate entity established by the Central Bank of Bahrain and Financial Institutions Law 2006. It was created on 6th September 2006.

T

he CBB is responsible for maintaining monetary and financial stability in the Kingdom of Bahrain. The CBB inherits the BMA’s 33-year track record and wide range of responsibilities.

It implements the Kingdom’s monetary and foreign exchange rate policies, manages the government’s reserves and debt issuance, issues the national currency and oversees the country’s payments and settlement systems. It is also the sole regulator of Bahrain’s financial sector, covering the full range of banking, insurance, investment business and capital markets activities.

The CBB’s wide scope of responsibilities allows a consistent policy approach to be undertaken across the whole of the Kingdom’s financial sector. It also provides a straightforward and efficient regulatory framework for financial services firms operating in Bahrain.

Just as any public corporate entity, the CBB has a Board of Directors that oversees the activities of the organization and the Governor to carry out the executive administration of the Central Bank.

Rashid Mohammed Al Maraj is Governor of the Central Bank of Bahrain. He is responsible for maintaining monetary and financial stability in the kingdom.

He has a Bachelor of Science in Industrial Engineering degree from the University of Houston, Texas, as well as a Diploma in Project Evaluation from Strathclyde University in the UK.

He began his career in 1979 as an engineer at the Ministry of Industry and Development in Manama. Two years later he became assistant undersecretary for Economic Affairs at the Ministry of Finance and National Economy, before taking the role of undersecretary at the Ministry of Transportation in 1995. From 1999 to 2005, he was the General Manager and the Chief Executive Officer of Arab Petroleum Investments Corp, which is based in Dammam, Saudi Arabia, before returning to Bahrain.

Mr. Al Maraj is on the Boards of the Economic Development Board (EDB), National Oil and Gas Authority (NOGA) and member of the Board of Trustees of the Oxford Institute for Energy Studies, UK. He has previously served as Chairman of the Bahrain Telecommunications Company, a member of the Consultation Council of the Co-operation Council for the Arab States of the Gulf and the Telecommunications Regulatory Authority (TRA) of Bahrain.

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BAHRAIN’S BOOMING

BANKING SECTOR A chat with Bahrain Association of Banks CEO, Robert Ainey The Bahrain Association of Banks (BAB) has ben committed to promoting the best practices in the vibrant banking sector of the Kingdom. In a chat with Business in Gulf, BAB CEO, Robert Ainey explains what makes Bahrain’s banking Industry unique.

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BANKING Tell us about the Bahrain AssociaƟon of Banks.

is either fragmented with different entities controlling on-shore / offshore activities or non-existent. Third is the proactive activities of other organizations – the Economic Development Board, Ministry of Industry and Commerce, Tamkeen and the Bahrain Institute of Banking and Finance (BIBF) that has been training Bahrainis since 1979 to take leadership roles in the industry.

The Bahrain Association of Banks (BAB), established by a Ministerial decree in 1979 and re-registered with the Central Bank of Bahrain in 2010, brings together banking institutions of all sizes and charters in the Kingdom of Bahrain and works towards enhancing Bahrain’s image as the financial hub of the Middle East.

The Bahrain Association of Banks represents and advocates the interests of all the various licensed financial institutions in Bahrain and works closely with the Central Bank of Bahrain and other government authorities at the highest levels on issues of banking policy and regulation, as well as actively promoting Bahrain as an international financial center.

Islamic banking is gaining importance the world over.

Why do you think it is so?

Islamic banking fulfills a need for those customers who object to conventional banking practices for religious reasons. It is perceived as a more ethical form of investing based on Sharia principles. Other customers may have accounts at Islamic banks due to the higher rate of return they offer because the deposits are not guaranteed and the customer participates in the profit or loss of the institution. Finally, in certain jurisdictions conventional debt instruments by government or businesses are not allowed or the issuers want to expand their potential investor base. In this case Sukuk provides that functionality.

What are the main acƟviƟes of the associaƟon?

The Association works on behalf of its members in many ways with the following objectives: € To represent and advocate the interests of the banking community in Bahrain nationally and internationally. € To promote Bahrain as an international finance centre of excellence overseas. € To work closely at the highest levels of government on banking policy and regulation affecting the banking and finance sector, in particular in cooperation with the Central Bank of Bahrain. € To assist in developing plans, proposals and strategies for the advancement of Bahrain’s banking sector.

In 2009 BAB launched a quarterly publication, The Bahrain Banker, which has established itself as the voice of Bahraini banking with an international readership. In 2010 BAB published The Handbook of Islamic Banking & Finance, the first in a series of such publications designed to inform a non-specialist audience.

In 2013 the Association published the first edition of ‘The Bahrain Banks Annual Review,’ together with the Bahrain Institute of Banking & Finance (BIBF). This is a 250-page, detailed analysis of all Bahrain’s registered banks – the first such analytical study of banks ever published in the region.

As the CEO, what are your main responsibiliƟes?

My main responsibilities are a) creating the capital and operating budgets for the next fiscal year, b) reviewing each quarter’s financial results and accomplishments, as well as the full year’s audited results, with the Board, c) implementing strategies and plans within the constraint of a) above, d) managing the day-to-day operations of the Association along with the other managers, e) representing the financial sector to the Central Bank and other third-parties, f) supporting our members’ events – receptions, product launches, branch openings, g) working with third-parties such as audit and advisory, IT and related firms to hold seminars on topics of interest to the industry and h) representing Bahrain at regional and international events.

How would you compare Bahrain’s banking industry with the banking industries across the GCC.

Bahrain has the oldest, most mature banking environment across the GCC. It has weathered crises in the past (Souk Al Manak, Iran-Iraq War, 1st and 2nd Gulf Wars, regional and global economic meltdowns) and continues to thrive. That primarily has to do with the depth of experience of Bahrain’s banking leaders and the advice and guidance of the Central Bank. The country has the most diversified economy of all the GCC nations that has helped it in times when oil or property prices collapsed. Due to these factors and given its small economy and population, Bahrain pulls well above its weight in terms of influence and respect.

What do you think are the factors that make Bahrain’s banking industry such a vibrant one?

Three factors contribute to this: First and foremost are the management and staff of the banking industry. They have a work ethic, professional training and dedication to the nation that is unsurpassed in the region. Second is the role of the regulator – the Central Bank of Bahrain. The rulebook on their website is open and transparent to all and covers every form of financial transaction: banking, insurance, funds, asset management, etc. In other jurisdictions this all-encompassing approach to regulation

"BAHRAIN HAS THE OLDEST, MOST MATURE BANKING ENVIRONMENT ACROSS THE GCC. IT HAS WEATHERED CRISES IN THE PAST (SOUK AL MANAK, IRAN-IRAQ WAR, 1ST AND 2ND GULF WARS, REGIONAL AND GLOBAL ECONOMIC MELTDOWNS) AND CONTINUES TO THRIVE."

Apart from the internaƟonal financial crisis, we have had a poliƟcal crisis closer to home. How much impact as that had on Bahrain’s banking industry?

According to all indicators – funds on deposit, liquidity, profits – it has not had a financial impact. The announced investments that the government will make in infrastructure projects, esp. affordable housing, electricity and water, transport, will be very positive for the industry. The main impact has been on the morale of people working in the industry due to the uncertainty politically motivated acts that we read about every day breeds.

What, in your opinion, should be a few basic ground rules to prevent a rerun of the banking crises.

Regulations with sharp teeth. The deregulation of the banking industry in the 80’s and 90’s in the US and UK in particular led directly to the banking crises as it became a fee-based, bonusfuelled industry without any concern that the products being structured, securitized and sold were what they claimed to be. The regulators were unable to stop this process because regulations had been abolished or warnings were ignored. In the latter case politics trumped prudence.

The rating agencies whose fees were paid by those firms issuing the bad products were also to blame. They routinely assigned investment grade ratings to what was basically junk.

That rating meant that pension funds, government agencies (municipal, state and sovereign) and overseas investors who were restricted to investing in only the highest grade were able to buy them for their portfolios. When the house of cards collapsed they were left holding worthless investments.

A simple question to research is “how many investment bankers, hedge fund managers, brokers, insurers of the worthless securities or rating agency bosses are doing jail time?”

What plans for the future for Bahrain AssociaƟon of Banks?

The Association’s future plans are dependent on having a stable, repeatable and secure revenue base. Right now membership is voluntary by institutions so as they cut expenses, relocate or merge, our revenue decreases. Another source of revenue is sponsorship of events and advertising in BAB’s publications, but again that is dependent on market, economic and political forces.

Our main focus will be to strengthen the Association’s experience and expertise in statutory / regulatory matters so that we add real value to our membership. This can take several forms and is pretty much a work in progress right now.

Do you have any advice for those youngsters who are aiming to make it big in the banking industry?

Yes, start modestly in entry-level positions, get to know the institution and industry in which you are working, take every course available at BIBF, and find a mentor who can guide you in your career path. It’s said that God gave us two ears and one mouth – the better to listen than to speak. It may come as a surprise but a number of Chief Executives at Bahraini banks started as data entry clerks, tellers and other beginning positions.

They worked hard, studied all they could, often travelled and lived abroad at personal sacrifice and succeeded.

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EVENTS

UNIQUE OPPORTUNITY FOR ENTREPRENEURS MOC Organizes Ramadaniyat Souq The Ramadaniyat souq, a special market, taking place during the month of Ramadan was launched at Bab Al Bahrain. It follows the successful “Bab Souq” organized during the Spring of Culture. It featured kiosks and stalls selling a variety of items including Bahraini handicrafts, food, clothing and jewelry. It provided a unique opportunity to local entrepreneurs to showcase their products and services.

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BATELCO THANKS BAHRAIN’S MEDIA

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Ghabga Organized at Sofitel Bahrain

atelco welcomed over 150 members of Bahrain’s Media representatives to a Ramadan Ghabga banquet at the Sofitel Zallaq Thalassa Sea & Spa. The event, which was attended by a number of Batelco’s executive

management, gave the guests a valuable opportunity to network, socialize and meet Batelco management in the lavish surroundings of the luxury hotel, while enjoying Arabic dishes and Ramadan specialties.

BATELCO

HOSTS GHABGA For its Al Dana Customers

Batelco hosted a Ghabga for its Al Dana Club members at the Capital Club.

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atelco Bahrain Chief Executive Rashid Abdulla, General Manager Consumer Division Muna Al Hashimi and Al Dana segment senior management were on hand to welcome the invited guests on the special occasion. The event stressed on the strong relationship with members and allowed attendees to share their communication experiences. The event programme included welcome speeches and an interactive question & answer session followed by the sumptuous dinner buffet and raffle draw that gave the guests the chance to win a number of high value prizes.

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VIVA BAHRAIN HOSTS BAHRAIN’S MEDIA

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Ghabga Organized at the Ritz Carlton

n recognition of the continuous support and positive role played by the media in positioning VIVA as one of the most pro-active, innovative telecom providers in the country, the company hosted members of the Bahrain media community for a ghabga gathering at the VIVAsponsored Al Khayma tent at The Ritz-Carlton, Bahrain. The event, which was attended by VIVA CEO, Ulaiyan Al Wetaid along with company’s top management team offered an excellent opportunity to network and socialize with media representatives who enjoyed an evening of traditional live entertainment and an extravagant spread of Arabic cuisine.

LEWAN RAMADAN LAUNCHED Bahrain City Center Organizes Educational Entertainment

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ahrain City Centre, in partnership with Ministry of Social Development & VIVA Jusoor, kicked off its Ramadan activities for families in the community.

At a ribbon cutting ceremony, Khalid Ishaq Al Kooheji, Assistant Undersecretary of Community development officially inaugurated Lewan Ramadan, a cultural village dedicated to sharing Islamic values and education.

Located at the mall’s Central Galleria Lewan Ramadan hosts educational and entertaining activities for families. It included Islamic and historical book reading, screening Islamic documentaries, E-learning, traditional games and Puppet shows every day throughout the Holy Month.

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BAHRAIN BUSINESSWOMEN’S Society Organizes Ghabga

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he Bahrain Business Women’s Society organized their annual ghabga at the Sofitel Bahrain Zallaq Thalassa Sea and Spa’s Al Nakheel Ballroom. During the event, the achievements of the Society in 2013 was highlighted. The evening provided an opportunity for the members to socialize and network.

IFTAR FOR K PLUS MEMBERS The K Hotel Hosts Media Members

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he K Hotel organized a media for its K Plus Loyalty Program members as well as the media community. During

the event, the management out on record their appreciation for the support that Bahrain’s media has extended to them.

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EVENTS

Ramadan Festivities Across the Kingdom

Al Areen Palace & Spa (AAP) held the successful

launch of it’s very first Layali Al Areen tent. The AAP management team welcomed various media personnel’s & special guests to the event.

Zain Bahrain organized a ghabga for the members of the

media and other partners at the Bushra (Bushidos) Outlet in Seef District. The guests enjoyed a night of fun and games, where Zain donated money to charity on behalf of the winners.

The Sheraton Bahrain Hotel organized an I ar for

the members of the media and other invited guests. Held on the first day of Ramadan, guests enjoyed the tradi onal ambience and delicacies at the Awal Ballroom.

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AUGUST / SEPTEMBER 2013

EƟhad Airways organized a ghabga for members

of the media at Baharat Restaurant, at the Kempinski Grand and Ixir hotel, Bahrain City Centre. During the event, the management discussed the progress that E had has seen over the last decade.

The Ritz Carlton Bahr

members of the media at the Al

bga for the Qatar Airways organized a ghaBah ed with rain Hotel & Spa. Guests interact Ritz Cartlton

Khayma Tent at the d various flown in from Doha, and discusse the management team, which had expansion. aspects including future plans for

ain Hotel & Spa launched the Al Khayma Tent wit h a whole new setup for the month of Ramadan. The event was a ended by the ma nagement, invited guests and the members of the media .

anized CiƟbank Bahrain orgnen tal

an I ar at the Intercon staff, other Regency Hotel for their ers of mb me stakeholders and nt, the eve the g rin Du . dia the me the d nde me management com their of nt me mit com us con nuo to Ci d we staff, which has allo players g din lea the of one e becom in the Kingdom.

their The Diplomat Radisson Blu Hotel launched and

nt, staff ghabga tent, in the presence of manageme the hotel is having me first the is This members of the media. a tent for its Ramadan fes vi es.

APM Terminals organized a ghabga for its corporate partners and members of the media at the Bushra (Bushidos) outlet. During the ghabga, APM Terminal Bahrain CEO Marco Neelson announced the new shipping lines that will be started from August.

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ng 100 Travel

The Al Ras

hid Group organized a ghabga for its Shukran Loyalty cardholders at the Al Thuraya Ballroom of the Regency Intercon nental Hote l.

The guests enjoyed live entertainmen t and a tradi onal buffet.

MicrosoŌ Bahrain organized

a ghabga for members of the media last night. The event, held at Gulf Hotel’s Ramadan tent, was a ended by Microso regional manager for Bahrain and Oman Tareq Hijazi, marke ng manager Racha Diwan, senior officials and journalists.

AL HAWAJ HOSTS GHABGA A

ghabga was hosted by Al Hawaj for local media representatives and guests at Al Hawaj Garden, Budaiya. The event featured a raffle draw and was attended by managing director Jawad Al Hawaj, general manager Abdulwahab Al Hawaj, officials, ambassadors and media representatives. The guests enjoyed an evening of networking and live entertainment.

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invi Oman Air held its annual Ghabga of Press & Media at the Agents along with the members ted to an enjoyable Al Safir Hotel. The guests were trea es and raffle draws. priz t spo es, gam with evening filled

IFTAR AT THE CROWNE PLAZA BAHRAIN Appreciation For Members of the Media

T

he Crowne Plaza Bahran organized an Iftar at their Spices Restaurant for members of Bahrain’s media community.

The management and key officials offered an excellent opportunity to socialize with media representatives, who enjoyed an evening of good food and networking.

YK ALMOAYYED

HOSTS GHABGA For its Fleet Customers

Y

K Almoayyed organized a ghabga at the Gulf Hotel Ramadan Tent for its fleet customers as well as members of the media. The management team interacted with the guests and thanked them for their support.

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n O p e e K

’ n i k c Tru se days were luxury cars? Well, tho rs ca ury lux d an s ck tru y, when trucks were mand them. Not every Remember back in the da e simple reason: because pickup truck buyers de and don’t need on o look at the bottom line wh re are far behind us, and for the t ou nty ple ll s, and the sti u: there are market for upscale truck ing ow gr a s pickup truck fan, mind yo re’ the t Bu e! list of some t want a workhors of course. Well, here’s a , ice pr a At .. all the fancy kit. They jus m… the ide m are keen to prov gdom today. companies that build the e pickup trucks in the Kin siz l ful ale sc up t ou ab d of the most talke

Cadillac Escalade EXT

The Caddy EXT is a sport u lity/pickup combina on that

quickly converts from a pickup with an enclosable eight-foot bed to a five-passenger luxury vehicle. The EXT deletes the third-row seats found in the standard Escalade in favor of a lined, lockable and enclosable pickup bed with manually folding midgate and removable rear window. Its powered by a 403hp 6.2L V8 with Ac ve Fuel Management, mated to a six-speed electronically controlled automa c transmission. Standard equipment includes stability control, remote start, Bluetooth compa bility, a rear-view camera and side curtain airbags. Some available op ons include Magne c Ride Control, 22-inch chrome wheels and power running boards.

Chevrolet Avalanche

The Chevy Avalanche offers the flexibility of either carrying up to six passengers or providing the hauling capacity of a long-bed pickup. Available in LS, LT, and LTZ trims the Chevy Avalanche comes in one configura on, a half-ton, full-size pickup with four doors, room for up to six passengers and ou i ed with a unique, fold-down rear bulkhead accessing an enclosed bed. And not just that, but this monsters model name has been updated to “Black Diamond Avalanche”. All Avalanche models come with a standard 320hp 5.3L V8 FlexFuel engine with Ac ve Fuel Management coupled to a 6speed automa c transmission. Safety features that come standard on all models include front seat and side curtain airbags; LATCH rear-seat child safety seat anchors and StabiliTrak with Proac ve Roll Avoidance.

Chevrolet Silverado

The Chevrolet Silverado works hard to live up to its reputa on as the

‘strongest, most dependable and longest las ng full-size truck on the road’. There are four engine sizes to choose from: 4.3-liter V6, 4.8-liter flex-fuel V8, 5.3-liter flex-fuel V8, and 6.2-liter V8; and two transmissions: a four-speed automa c and a six-speed automa c. Like all Silverados, the 1500 is available in a wide array of bed sizes, wheelbases, drive types and cab sizes, as well as a variety of trim levels.

As you must have no ced, our demo Silverado came with a lot of accessories; this SZS package includes custom leather seats, carbon fibre trim, chrome rims, chrome trim and lo a other op ons that you could opt for. The standard StabiliTrak stability control system with proac ve roll avoidance includes trac on control, trailer sway control and hill hold assist. Available features include USB connec vity, rear back-up camera, Bluetooth connec vity and a naviga on system.

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Ford F-150

The all new Ford F-150 pickup truck manages to combine versa lity, great fuel economy and dependability while offering several unique trims, cab styles and pickup box lengths. The F-150 is available in several dis nc ve trims. Our XLT came along with a fuel efficient 4valve DOHC 360bhp 5.0L “Coyote” V8 powerplant that’s mated to a 6speed automa c transmission equipped with a tow haul mode. Safety features include four-wheel ABS disc brakes, electronic trac on and stability control, front and side airbags and the Safety Canopy side curtain airbags. The F-150 offers a 4x2 or a 4x4 drive system, three cab styles, three pickup box lengths and several useful individual op ons and op on packages. Available Ford exclusive features include three SYNC varia ons, MyKey, SecuriLock, SecuriCode, SelectShi , retractable pickup box side steps and a tailgate step. All new SYNC controls are larger and easier to manipulate. New grille designs are available as well as segment exclusive HID headlamps and a voice ac vated naviga on package.

GMC Sierra

The GMC Sierra offers fuel economy, capability and performance in a broad lineup that includes everything from job-ready Work Truck to the well-appointed Denali. It is available in a wide array of bed sizes, wheelbases, drive types and cab sizes, and trim levels. Our demo came with a 6.2L V8 engine that produced around 322bhp and it’s mated to a 6speed automa c heavy duty transmission. The standard StabiliTrak stability control system with proac ve roll avoidance includes trac on control; trailer sway control and hill hold assist. Available features include USB connec vity, rear back-up camera, Bluetooth connec vity and a naviga on system.

Dodge RAM

Extensively freshened for 2013, the Dodge Ram 1500

offers bold styling with an aggressive “grille-forward” design, interiors with premium materials, innova ve features and immense power from that 5.7L V8 powerplant that produces around 395bhp and 407 lb- of torque (It’s mated to an 8speed automa c gearbox, 2WD and 4WD is again available), makes this monster very ideal for work and play. An all-new premium headlamp ligh ng system is a bi-func onal halogen projector design with amber turn-signal LEDs. For 2013, new features and technologies create opportunity for a redesigned interior with material upgrades, improved fit and finish, all-new interior themes with different colors and materials, and new mul media systems. You could even opt for the air suspension system that features five height se ngs for op mum ride and performance and you even get a load-leveling capability that automa cally detects load on the suspension from a trailer or payload.

Ford SVT Raptor

This street-legal trophy truck is big, brawny and incredibly capable of going anywhere and everywhere! Let’s just say it’s every bit the monster it visually portrays. Ford offers its SVT Raptor package on Supercab and Supercrew pla orms with the five-foot, five-inch bed. In addi on to its cosme c differences when compared to the standard F-150 – there isn’t a young boy on the planet who doesn’t think the ma e black Ford grille is cool – the Raptor has a 73.6” track – nearly seven inches wider than the track on the standard F-150. Power comes from a 6.2L SOHC V8 that produces around 411 horsepower and 434 lb- of torque. A six-speed automa c sends power to all four wheels (four-wheeldrive is standard, as one would expect) and features a full manual mode that gives the driver complete control over gear selec on - upshi s are not commanded at redline, and downshi s are allowed at the lowest gear possible as defined by the engine speed. A er upgrading the F-150 SVT Raptor significantly for the 2012 model year, there are only a few changes for 2013. The list includes standard high-intensity discharge (HID) headlamps, Hill Descent Control, forged beadlock-capable wheels, and the new ma e Terrain color (aka “Desert Storm”) op on.

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FASHION

THE LAT A EST AND TRENDIEST WAY TO DRESSING UP BIG brings to you the latest fashion from the top brands in the fashion world. v

Metal Plaque Cuoio Leather Belt Dolce & Gabbana

Width: 30mm. Two tone metal logo buckle. Made in Italy from 100% Calf leather. luisaviaroma.com

Retro Collection n Analogicall Watch Emporio armani

Diameter 40 m mm, mechanism analogical, case steel; steel Bracelet. armani.com

RB Sunglasses Ray-Ban

Not so square after all, Ray-Ban proffer sun-drenched scenarios with these typically cool frames. Forever classic in tortoiseshell, the linear silhouette and palpable feel of understated attitude rank these a must for your urban repertoire. mytheresa.com

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Hamilton large texturedleather tote Michael Michael Kors

Azure textured-leather, two top handles, chain-trimmed shoulder strap functioning padlock and key, gold-tone hardware.

Fully lined in champagne designerstamped canvas. net-a-porter.com

Metallic full skirt dress Lanvin

Gold-tone silk blend sleeveless dress from Lanvin featuring an abstract metallic pattern throughout, a fitted bodice, and a full skirt.

Has a raw cut waistband, a mid-length hem, full lining, and a concealed zipper and hook-eye closure in the back. farfetch.com

Juliet Necklace in Emerald Mouton Collet

Distinctly unusual and exquisitely refined, this crystal-laden necklace from design duo Mouton Collet lends an ultra-glamorous punch to your ensemble.

Tonal green/blue/black crystals, rose gold-toned metal, lobster-claw closure list icon Team with a Little Black Dress or simple cashmere crewneck. stylebop.com

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LIFESTYLE

STUFF WE LIKE Check out the latest gadgets and a host of other items for executives on a break or having some family time ‚HUMPHREY

BOGART GOLD LIGHTER

S.T.Dupont celebrates its 140 year, by releasing a range of a very special lighter as a tribute to two clients of S.T. Dupont, Audrey Hepburn and Humphrey Bogart. S. T. Dupont Lighters are very technical products ensuring maximum reliability. It is a very sophisticated goldsmith decor with a combination of “grain d’orge” and shiny gold. The design is directly linked with their malletier heritage. It also comes with an engraved blazon representing HB’s silhouette and Bogie signature. Humphrey Bogart’s signature is also slightly engraved on both products. The lighter has a sophistication of the unique crystalline sound on the opening, the cling that has made this lighter a world-famous original accessory. st-dupont.com

ÊLEICA

D-LUX 6 G-STAR RAW

The outstanding factor in the camera is its avatar in special edition leather trim, which is unique and ensures a firm grip. The Leica D-Lux 6 sports a fast lens with a 1.7 CMOS image sensor allowing a zoom range of 24 to 90 mm and thus assuring stunning image quality, be it macro shots, wideangle architectural and landscape photography to photojournalism and portraits. The principal features of the D-Lux 6 include automatic mode, manual settings, and full-HD video, providing its users with the ultimate creative freedom. leica-camera.com

ÂAMOSU DI DIAMOND MOTOPURE H12

Designed by Amo Amouso Luxury Ltd, this blue tooth headset is said to be the mo most expensive one created. The headset is based on Motorola’s Motoro standard H12 headset. The earphone comes with th three interchangeable ear cushions. The two microphones micropho in the headset reduce the background noise considerably and add to the transmitted sound quality. It also makes listening better sou on this headset. The Diamond H12 has its o front face made from 18 carat gold. The 18 carat gold for making this headset can be opted from white gold or the yellow gold. The gold setting is then further studded with 184 diamonds in an artistic and artful manner. The diamonds weigh up to 3.47 carats. The choice of pink, black and white whit diamonds are also offered. Not just that but only 100 of tthese headsets are to be produced. amosu.co.uk amos amo su c su

‡LUXURY

BISSOL ACCESSORIES

The pioneers have now raised the bar of the same by giving it a gilded makeover. They’ve launched the 788 Caliber Gold, which is just a gold-plated edition of its 788 Caliber mobile timepiece. The 24 carat gold plating certainly ups the bling factor of this iPhone accessory.

Effortlessly attached to the bottom of the iPhone, the 788 Caliber Gold tells time with a touch of opulence. Well shaped to appear to be a part of the handset, it is an ideal add-on for people who want to make a statement but with a less-obtrusive accessory. bissol.com

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‚CONCRETE

N1 SPEAKERS

AUDIO

Designed for those who seek both unrivaled purity and clarity in sound resonance and for those that adhere to an exclusive ‘audiophileclass’ lifestyle, this new gadget is actually perfect combination of plain concrete and state of the art interiors. Complete with selected high-end drivers and selected quality components from high purity copper, silver and gold, these speakers produce exceptional quality of sound with unrivaled purity and clarity. Thanks to concrete, the 100W N1 speaker weighs around 80kgs and measures 110 cm x 23 cm x 33 cm. audiophilia.com

‡DELONGHI

PRIMADONNA ESPRESSO MAKER

An Automatic Cappuccino, Latte and Macchiato maker christened PrimaDonna – a new espresso maker from DeLonghi comes with the programmable system that works wonders with its one-touch mechanism. One can feed their personalized settings on to the system; this includes adjusting the coffee strength, volume, and temperature. All this at your fingertips and you’re good to go with a frothing steaming cuppa latte, cappuccino, or a macchaito. The PrimaDonna, the Italian espresso maker features an easy to read LED panel, built-in 13 adjustable settings for custom-ground beans, two independent boilers, removable frothing system that lets you store milk in the refrigerator, removable water reservoir and drip tray, both with automatic level indicators, an automatic cleaning function, and even an energy saving function. williams-sonoma.com

 LUXURY

AERO DREAM ONE MUSIC TOWER

The custom made AeroDream One iPod/ iPad/iPhone Tower as you can see was designed by Jarre Technologies. The Aero Dream One music tower station is definitely something huge! Literally, it’s 3.4 meters high and its aim is to stand out and make an impression. This is the type of gadget that simply cannot pass unobserved. AeroDream One is the ultimate device that creates the perfect ambience in order to experience an enhanced sound. The tubular-shaped item weights around 395kg’s and it delivers a power of 10 000W, featuring a gigantic 18” subwoofer and a 5 channel amplifier. jarre.com

‚ILOGITECH

AIR 3D LASER MOUSE IN GOLD CASE

Made by Logitech, the Logitech Air 3D laser mouse is priced at 24,180 USD. The mouse is covered by using a gold case. The mouse also features a jewel micro flash drive, and also a diamond ring. Definitely one of the costliest mice in the world, the Logitech Air 3D laser mouse in the gold case can surely take your breath away with its exquisite looks. luxurytopics.com

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EDITORIAL

SOFITEL BAHRAIN A PERFECT SPOT FOR ALL YOUR EVENTS

Secluded, grand and with picturesque views of the Arabian Gulf, Sofitel Bahrain Zallaq Thalassa Sea & Spa is an exclusive resort reputed for its stylish décor, flawless service and exceptional contemporary cuisines which complement events of distinction. A place where life can be savored and shared, turning every event into a unique and unforgettable experience.

T

he hotel offers a business centre with 2 meeting rooms as well as a 1,100 square metre grand ballroom with banquet facilities that can accommodate up to 1,000 people, complete with top-of-the-range audio visual equipment. The elegant atmosphere of the grand Al Nakheel Ballroom sets the stage for your most treasured moments and allows for various events of prestige to unfold.

Energize your business meetings with unique settings where creativity flows, bringing impact and flair to corporate events, from board meetings to large conferences.

Discover intimate ambiance, impressive facilities and ingenious event planning with a wide range of dedicated services for functions, lavish banquets as well as product launches that make a splash.

Wedding dresses are made to measure – why not venues? Let Sofitel take you by the hand and lead you down the aisle of creative ideas, reception venues and event planning.

Experience made-to-measure celebrations of your choice ranging from cherished and intimate family affairs, anniversary and graduation ceremonies, chic cocktail parties to more sophisticated and memorable wedding receptions. Sofitel Bahrain Zallaq Thalassa

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Sea & Spa’s classic grandeur and contemporary style offers a striking setting for your own modern romance. While the luxury settings of the hotel provide an impressive first impression, it is the impeccable service and dramatic furnishings within that will make your affair truly remarkable.

For magnifique meetings and events trust Sofitel’s event planners’ meticulous attention to detail and creative vision to tailor the outstanding facilities to suit your specific needs and objectives; providing seamless organization and a stunning stage for your most inspired, inspiring events.

Sofitel Bahrain Zallaq Thalassa Sea & Spa offers 5 restaurants and 4 bars to provide culinary experiences. It is the first hotel in the GCC to offer thalassotherapy; seawater and aquatic plant based treatments. The Thalassa Sea & Spa complex covers 2,000 square meters on two floors of the hotel featuring 14 treatment rooms which offer hydrotherapy treatments, massages and wellness programs with a fitness evaluation area for personalized routines. Remarkable selections of leisure and team building activities are available at the uniquely secluded and private La Plage Beach Club perfecting the rich coastal paradise on Zallaq’s renowned coast.

EDITORIAL

REACH HIGHER WITH LINCOLN T H I S

R A M A D A N

S E A S O N

Almoayyed Motors, the authorized dealer of Lincoln in Bahrain, has extended its Ramadan campaign till the end of this month. Lincoln’s sedans and SUVs are now available at unbeatable prices and are packaged with attractive offers.

S

ANDEEP MATHUR, General Manager at Almoayyed Motors, stated “Lincoln is the true example of a luxurious automotive brand, and we are delighted to share its impressive features to our customers during Ramadan. We are also excited to announce great deals on our sedans and SUVs that include low interest rates, 3 year service package, 2 months deferred payment, and gift vouchers of up to BD 450 at Bahrain City Center.”

The 2013 Lincoln MKT is powered by a 3.7L Ti-VCT engine and SelectShift Automatic® transmission, giving you the excitement of a stick shift with the convenience of an automatic. It is also enhanced with Electric Power Assisted Steering that gives you that feeling of precision and a reversed sensing

system to better help your judgment. With a starting price of BD 16,950, the MKT is a powerful and elegant drive.

The 2013 Lincoln MKS starts from the price of BD 18,895 and comes with an EcoBoost® V6 engine that generates 365 HP –giving you the performance of a V8 with the fuel economy of a V6. Equipped with an all-new braking system, the MKS provides the driver with a boost of confidence. It is also enhanced with a Lane Keeping system, keeping you safe by alerting you to steer back to your target lane, and with an Active Park Assist that uses ultrasonic sensors to help you park in those tight spots.

The 2013 Lincoln MKX’s eye catching and sleek design complements its 3.7L V6 engine. Starting from only BD 15,995 it is an exhilarating drive for sport car enthusiasts as its

six-speed SelectShift Automatic® transmission allows you to manually select the gear.

The biggest and boldest in its class, the 2013 Lincoln Navigator delivers a smooth performance with its 5.4L V8 engine. The refined multi-link rear suspension delivers excellent handling, and the 4 wheel drive improves traction. Comfortable and spacious, the Navigator can seat up to 8 passengers and utilizes the latest innovations and starts at BD 25,000.

Lincoln has a prominent presence in the market of luxurious cars. With stunning designs and the latest technologies, Lincolns vehicles are built on the foundations of reliability, leisure and safety.

For more information on Lincoln’s dazzling Ramadan deals, visit Almoayyed Motors in Sitra or call 17 737373.

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TAMKEEN Solutions for Sustainable Growth

Since its establishment in 2006 as part of the nation’s reform initiatives, Tamkeen has successfully laid a solid foundation for Bahrain’s private sector to become a key driver of Bahrain’s economic development, as outlined by the national economic strategy.

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T

hrough a multitude of innovative support programmes designed to empower the growth and development of Bahrainis and enterprises, Tamkeen has become synonymous with development and prosperity, and more importantly, engendered a positive paradigm shift in the market which has touched many areas.

Currently standing at around 180 in all, each of these support programmes comes after thorough studies and consultations with stakeholders. These programmes to date have served nearly 77,000 beneficiaries.

“Among the segments which benefited the most from Tamkeen are SME’s, a category which is widely recognised as the crucible of innovation and job creation in developed nations,” said Tamkeen Chief Executive Mahmood Al-Kooheji. “As such, it is of utmost importance to provide this category with the support it needs if we are to achieve our objectives and fuel future economic growth.”

However, being a traditionally high-risk category for banks, this meant that SME’s faced an uphill struggle in accessing the capital they need to finance their growth and expansion. Recognising this,

Tamkeen designed and launched a multitude of programmes to enable SMEs to secure the capital they need at low cost.

Among these programmes is Tamkeen’s flagship Enterprise Financing Programme. In it, Tamkeen acts as the facilitator, connecting enterprises and financial institutions in a way which benefits both sides; On the one hand, the scheme gives enterprises access to affordable financing solutions. On the other, banks reduce their risk thanks to Tamkeen’s backing. It is a true win-win situation.

“More importantly, the Enterprise Financing Programme introduced and institutionalized the concept of SME financing within the market. Banks saw that SME’s were actually an untapped

Bahrain Islamic Bank

opportunity and began to focus more on catering to this category,” added Al-Kooheji.

To date, Tamkeen has secured partnerships with 11 leading Bahrainbased banks in this scheme, including Bahrain Development Bank, Ithmaar Bank, Bahrain Islamic Bank, BMI Bank, Al Salaam Bank, Bahraini Saudi Bank, Kuwait Finance House, Khaleeji Commercial Bank, Standard Chartered Bank, and National Bank of Bahrain.

P

roviding loans which can range from BD 5,000 to BD 500,000 with flexible payment options, the programme currently boasts a portfolio value of around BD 247.5 million in funding to support their expansion and development through its Enterprise Finance Scheme.

Over 4,685 enterprises have been served through this scheme to date - one-third of which are owned by women, and over 1,000 of which are start-ups.

Besides bridging the SME financing gap, another tangible impact for Tamkeen on the banking industry has been the introduction of micro-financing into the market though its Micro-Financing Scheme. The scheme, which includes the Micro-Financing Portfolio in partnership with Family Bank, and Princess Sabeeka Women Entrepreneurship Portfolio, is set to serve 1,250 enterprises in all.

Together, these and other enterprise support programmes offered by Tamkeen provide an integrated and comprehensive set of solutions that place SME’s in Bahrain on a solid foundation to achieve sustainVable growth and contribute to economic prosperity.

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. . the B I G

HOTEL guide YOUR GUIDE TO THE KINGDOM’S HOTEL OUTLETS

DINING SHERATON HOTEL BAHRAIN Al Safir Restaurant Gastronomical buffets for breakfast lunch and dinner as well as superb á la carte options.

Opening Hours: Thursday - Saturday 12:30PM to 3:00PM Every night except Sunday: 8:00PM to 11:00PM Fiamma is closed on Sundays

Saraya: All Day Dining / International Exquisite buffets with flavors from across the world. Available is breakfast, lunch and dinner and also a la carte and live cooking station.

Soie Chinese Restaurant

Wok: South East Asian Restaurant

Golestan Restaurant Discovery of traditional Iranian dishes with freshly oven-baked breads served at the table.

Opening Hours: Sunday to Thursday Lunch 12:30 PM – 2:45 PM Dinner 7:30 p.m. – 11:30 PM Friday: Lunch 12:30 PM – 3:45 PM Dinner 7:30 PM – 11:30 PM Closed on Saturdays

Espressamente Illy A perfect place to meet and enjoy a cup of espresso, refreshing beverages and light snacks.

Opening Hours: Daily: 7:00 AM – 10:00 PM For Information & Reservations Al Safir: +973 17533533 ext 259 Soie Chinese Restaurant: +973 17 533 533 ext. 497 Golestan Restaurant: +973 17 533 533 ext. 375

AUGUST / SEPTEMBER 2013

Designed with an indoor and an outdoor seating area, this outlet will serve authentic Italian food.

Opening Times: Daily 6:30AM to 10:30 AM (11AM on weekends) Lunch: 12:30PM to 3:30PM Dinner: 7:00PM to 10:30PM

Opening Hours: Daily: 7:00 PM – 11:30 PM Closed on Fridays

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Fiamma: Italian Restaurant

Opening Hours: Breakfast 6:30 AM -10:30 AM Lunch 12:30 PM – 3.30 PM Dinner 7:30 PM – 11:30 PM Relax in the dramatic ambience with dark wood floors, oriental ornaments and lanterns.

Baharat, Kempinski

SOFITEL BAHRAIN ZALLAQ THALASSA SEA & SPA

Espressamente Illy: +973 17 533 533 ext. 1790

The perfect combination of stones and wood in the décor to reflect an Asian feeling is defiantly there.

Opening Hours: Wednesday to Monday: 7:00PM to 11:00PM Wok is closed on Tuesdays

Tapas: Restaurant It services a wide range of exciting tapas, and the best cocktails on the island. Tapas bar has a truly vibrant and lively atmosphere with its Cuban band.

Opening Hours: Daily: 11:30AM to Midnight

La Mer: Seafood Restaurant It is the signature restaurant of the hotel, guests will enjoy the freshest seafood and catch of the day cooked at the live cooking station with a French savoir-faire to please all tastes.

Opening Hours: Daily: 7:00PM to 11:00PM

Pashawat: Arabic Restaurant It is open in the evenings and offers a delightful Lebanese cuisine. Guests will enjoy large varieties of Mezzah as well as delicious charcoal grilled specialties.

Opening Hours: Monday to Friday: 7:00PM to 1:30 AM (Closed on Saturdays and Sundays) For Information & Reservations Hotel: +973 1763 6363 Concierge: +973 39349659

China Garden The restaurant, which is designed in a modern oriental style, offers a varied selection of food influenced by distinct Chinese regions creating Cantonese, Szechuan and Peking specialties.

La Med, Ritz Carlton

Opening Hours: Monday to Saturday Lunch 12:00pm to 3:00pm Dinner 7:00pm to 11:00pm Closed on Sunday

Klouds Enjoy an assortment of culinary delights with their special Themed Nights everyday of the week.

Opening Hours: Daily: 7PM to 11PM

Friday Brunch Discover The K difference in Friday Brunch!

Plums The specialty being premium beef and fresh, top quality seafood, it provides guests with the ultimate in dining pleasure.

Opening Hours: Dinner: 7 PM to 11:30PM

Primavera Primavera, the ever popular Italian restaurant offers a very exciting menu.

Opening Hours: Friday, 12:30PM to 4:30PM

Opening Hours: Lunch: Noon to 3PM Dinner: 7PM to Midnight

The K lounge

Nirvana

Some new dishes include the world famous Angus steaks and exceptional desserts with that extra K flavor.

Our ongoing promotions include: Daily Happy Hour from 5pm to 7pm Coors Light & Burger Treats Ladies Night from Saturday to Wednesday all cocktails free of charge for Ladies.

Nirvana brings royal flavors to The Ritz-Carlton for a dining adventure rarely enjoyed outside of India.

Opening Hours: Daily: 11AM to 2AM

The Ritz-Carlton has a dedicated cigar lounge with a cellar of premium malts, cognacs and vintage wines.

Kenza Lounge

Opening Hours: Daily: Noon to 2AM

Outdoor seating and Arabesque interiors, experience the finest Lebanese dining.

Opening Hours: Tuesday to Sunday: 7PM to 2AM For Information & Reservations

K Hotel: (973) 1736 0000 Klouds: (973) 1736 0000 ext. 4019 K Pool: (973) 1736 0000 or email banquet@thekhotel.com

THE RITZ‐CARLTON, BAHRAIN HOTEL & SPA Overlook Café The perfect place to relax by the water and enjoy a variety of light lunch items, refreshments, beverages and cocktails with a tropical flair.

Opening Hours: Daily: 10 AM to 6 PM

La Med Casual dining in generous surroundings is brightened with natural sunshine and views of the turquoise blue waters of the Gulf.

Opening Hours: Continental and Arabic Breakfast: 7AM to 10:30AM Lunch Buffet: Noon to 3:30PM Lunch Express: Noon to 3:30PM All Day Dining Menu: 3:30PM Dinner: 7PM to 11:30PM Friday Brunch: 12:30 PM to 4PM

Opening Hours: Lunch Noon to 3PM Dinner 7PM to 11:30PM

Burlington Club

The Lobby Lounge The traditional high tea is served daily in the Lobby Lounge and boasts all the luxurious delicacies that you would expect.

Opening Hours: Daily: 8AM to Midnight

The Ritz Gourmet Lounge Experience authentic chic ambience like in a Parisian along with homemade pastries and richly decorated desserts.

It is favored by Japanese Embassy staff who are said to love its peaceful Zen-like surroundings and exquisite features, including teppanyaki rooms and an authentic robatayaki grill and a Sushi bar with a smoking section.

Opening Hours: Lunch 12:00pm – 3:00pm Dinner 7:00pm – 11:00pm

Takht Jamsheed Fusions

THE K HOTEL

Sato

Fusions is a contemporary and stylish rooftop restaurant boasting unrivalled views over the hotel’s tropical gardens and Manama skyline.

Opening Hours: Sunday to Friday 6pm – 12am Closed on Saturday

La Pergola Renowned for being one of Bahrain’s oldest Italian eateries, the intimate restaurant offers a fantastic Mediterranean ambience with a vaulted roof and striking wall murals depicting scenes of ancient Rome.

Opening Hours: Lunch 12:00pm – 3:00pm Dinner 7:00pm – 11:00pm

Margarita Mexicana All dishes, including tortillas and guacamole, are freshly prepared at guests’ tables to guarantee that the menu and fine dining experience are as authentic as possible.

Opening Hours: Sunday to Friday 6:00pm – 12:00am Closed on Saturdays

Royal Thai The restaurant is situated in a grand pagoda in the grounds of the hotel’s tropical gardens and provides scenic views overlooking the turquoise waters of the outdoor swimming pool.

Opening Hours: Tuesday to Sunday Lunch 12:00pm – 3:00pm Dinner 7:00pm – 11:00pm Closed on Mondays

Taking inspiration from Persia’s royal palace of Takht Jamsheed, the Gulf Hotel’s chic restaurant offers a fine dining experience fit for a king.

Opening Hours: Tuesday to Sunday Lunch 12:00pm – 3:00pm Dinner 7:00pm – 11:00pm Closed on Mondays

Zahle The menu boasts an extensive selection of hot and cold mezze, grilled meat and regional Lebanese fare, such as beautifully presented shish kebab served in a golden box atop warm Arabic bread and burning coals.

Opening Hours: Monday to Friday Weekdays: 7:00pm – 1:00am Weekends: 7:00pm – 2:00am Saturday Lunch 12:00pm -3:00pm Dinner 7:00pm – 2:00am For Reservations

Al Waha: +973 1774 6425/26 China Garden: +973 1774 6423/24 Fusions: +973 1771 3000 La Pergola: +973 1774 6419/20 Margarita Mexicana: +973 1774 6462 Royal Thai: +973 1774 6421/22 Sato: +973 1774 6429/30 Takht Jamsheed: +973 1774 6431/32 Zahle: +973 1774 6417/18

Golestan, Sheraton Hotel Bahrain

Opening Hours: Daily: 7AM to Midnight For Information & Reservations Hotel: +973 1758 0000

GULF HOTEL Al Waha Diners are spoilt for choice with an extensive array of buffet fare featuring local and international dishes, as well as an impressive variety of Bahraini hummus.

Opening Hours: Breakfast 6:00am – 10:30am Lunch 12:00pm – 3:30pm Dinner 7:00pm – 11:00pm Friday Brunch: 12:30pm - 4:00pm AUGUST / SEPTEMBER 2013

73

Royal suite, living area - The K Hotel

KEMPINSKI GRAND & IXIR HOTEL

Opening hours: Daily: 7:00pm - 12:00am

T-spoon

Mediterranean Grill buffet restaurant serving a variety of Mediterranean and international foods.

Conveniently located on the ground floor of Kempinski Grand & Ixir Hotel Bahrain City Centre with direct access from the mall, bringing flavours that will delight your sweet tooth.

Opening Hours: Daily: 9:00am – 11:00 pm

Mezzanine Lounge The comfortable lounge setting features a media wall with 11 mounted screens; complemented by a collection of innovative food design of tasty salads and platters.

Opening Hours: Daily: 11:00am - 1:00am

Zytoun

Opening hours: Daily: 6:30am - 11:00pm For Reservations

Hotel: +973 1729 8008

AL SAFIR HOTEL Yalla Yalla

Nasmat - Lounge & Restaurant

In place of Savoy Café, Yalla Yalla offers lunch and dinner bufftets as well as an ala carte menu.

The al fresco poolside Mediterranean ambiance offers a haven in which to escape and unwind from Manama’s buzz throughout the day.

Bennigan’s

Opening Hours: 10:00 am – 7:00 pm

Saveur Contemporary international cuisine and luxurious ambience ensure its place as Manama’s restaurant of choice for special occasions.

Opening Hours: Monday to Sunday Breakfast 6:30am - 11:00am Lunch 12:30pm - 3:30pm Dinner 7:00pm - 10:30pm

Opening Hours: Daily: 6:30AM-Midnight Enjoy tasty food and spirited conversation.

Opening Hours: Daily: 6AM-2AM

Cucina Italiana The place where Italian Food is served with style and passion.

Opening Hours: Monday to Sunday 6:00AM - 1:00AM

Baharat Experience Arabian fine dining that promises to deliver a new, exceptional culinary adventure for the whole family.

Opening Hours: Wednesday to Friday 7:00pm - 01:00am

All restaurants: +973 1717 1000

SHOPPING SHERATON HOTEL BAHRAIN Alhilal Bookshop

MÖVENPICK HOTEL BAHRAIN Silk’s restaurant Experience fine dining and sample creative menus prepared by seasoned and culinary experts. The unique show-kitchen/live-cooking concept provides an exciting and lively setting.

Opening Hours: Daily: Breakfast 9:00am - 10.30 am Lunch 10:00am – 4:00pm Dinner 5:00pm – 12:00am For Reservations

Silk’s restaurant: +973 17460017

Opening Hours: Daily: 9AM to 9PM For Information

Alhilal Bookshop: +973 17 531 665

THE RITZ‐CARLTON, BAHRAIN HOTEL & SPA Chopard Boutique Opening hours: Daily: 7AM to Midnight

Mohd Sharif Hatam & Sons

NOVOTEL AL DANA RESORT La Perle Enjoy a delicious range of culinary specialties with an extensive selection of appetizers, salads and desserts to complement your choices Seafood and fishes.

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AUGUST / SEPTEMBER 2013

Opening hours: Saturday to Thursday: 10AM to 2PM – 4PM to 8PM For Information

Chopard Boutique: +973 17 580 667 Mohd Sharif Hatam & Sons: +973 17 580 889

SPA & SALON SHERATON HOTEL BAHRAIN

KEMPINSKI GRAND & IXIR HOTEL Pure Spa Opening Hours: Daily: 11:00 am to 8:00 pm

Image Spa & Leisure Opening Hours: Daily: 6Am to 10PM

For Information & Reservations +973 1717 1122

Sheraton Health Club Opening Hours: Daily: 7AM to 10PM

Sheraton Fitness Opening Hours: Daily: 9AM to 8:30PM For Information

Image Spa & Leisure: +973 17 524 570 Sheraton Fitness: +973 17 524 570 Sheraton Health Club: +973 17 533 533

SOFITEL BAHRAIN ZALLAQ THALASSA SEA & SPA

THE RITZ‐CARLTON, BAHRAIN HOTEL & SPA Elie & Jean Beauty Center Gents Saloon Opening hours: Saturday to Thursday: 9:30AM to 8PM Friday: 10AM to 7PM

Sports Club & Spa (Membership only) Opening hours: Daily: 5:00AM to 10:30PM For Information

Elie & Jean Beauty Center - Gents Saloon: +973 17 580 798

Thalassotherapy (Call for Appointment) For Information & Reservations Hotel: +973 1763 6363 Concierge: +973 39349659

THE RITZ‐CARLTON, BAHRAIN HOTEL & SPA Elie & Jean Beauty Center Gents Saloon Opening hours: Saturday to Thursday: 9:30AM to 8PM Friday: 10AM to 7PM

Sports Club & Spa (Membership only) Opening hours: Daily: 5:00AM to 10:30PM

Elie & Jean Beauty Center - Gents Saloon: +973 17 580 798

AL SAFIR HOTEL Ann Beauty Salon Come in and relax to soothing music as our therapists provide the perfect treatment.

For Information & Reservations Al Safir Hotel & Tower: +973 1782 7999 Email: alsafirh@batelco.com.bh Bennigan’s: +973 1781 3750 Website: bennigans.com.bh Cucina Italiana: +973 1700 1317 Website: cucinaitaliana.com.bh

THE K HOTEL The K lounge Opening Hours: Daily: 11AM to 2AM

Champions Sports Lounge Opening Hours: Daily: 11AM to 2AM For Information

K Hotel: (973) 1736 0000

GULF HOTEL Sherlock Holmes Opening Hours: Daily: 12:00pm – 2:00am

Typhoon Bar and Lounge Opening Hours: Daily: 5:00pm – 1:00am Happy Hour: 5:00pm – 7:00pm

Vintage Wine Bar Opening Hours: Daily: 5:00pm – 1:00am

For Reservations

Royal Suite Bedroom, Kempinski

K Hotel: (973) 1736 0000 Sherlock Holmes: +973 1771 2450 Typhoon Bar and Lounge: +973 17 746 395 Vintage Wine Bar: +973 1774 6461

Fiamma, Sofitel

NIGHTLIFE SHERATON HOTEL BAHRAIN An Nada Lounge Opening Hours: Happy Hour: 1:00 pm to 7:00 pm Daily 1:00 PM – 1:00 AM For Information

An Nada Lounge: +973 17 533 533 ext. 293

KEMPINSKI GRAND & IXIR HOTEL Boudoir Opening Hours: Monday to Sunday: 5:00pm - 2:00am

Bizarre Lounge Opening Hours: Daily: 9:00pm - 2:00am For Information & Reservations Hotel: (973) 1717 1000

SOFITEL BAHRAIN ZALLAQ THALASSA SEA & SPA

NOVOTEL AL DANA RESORT

Amber Bar

Le Bellevue

Lagoon Pool Bar

A relaxed yet elegant bar offering one of the most stunning views of the sea and city skyline. Light live music in the evenings.

Opening Hours: Daily: 8AM to 8PM

Opening hours: Daily: 4:00pm - 2:00am

Lobby Lounge Bar

Pool Bar

Opening Hours: Daily: 8AM to Midnight

Tapas: BAR

Pool bar is open on weekends during December- February and every day from March 1 until November. (Closed during Ramadan).

Opening Hours: Daily: 11:30AM to Midnight

Opening hours: Daily: 9:00am -8:00pm

Opening Hours: Daily: 6PM to 2AM

For Information

Hotel: +973 1763 6363 Concierge: +973 39349659

For Reservations

Hotel: +973 1729 8008

AUGUST / SEPTEMBER 2013

75

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Anne Mostafa,PsyD Clinical Psychologist Tel: +973 36317033, email: doctoranna@psychologistbahrain.com www.bahrainpsychologist.com 76

AUGUST / SEPTEMBER 2013

WHO

WAS HUSSAIN AHMED NAJADI? 1938 - 2013 A gunman who crept from behind, fired randomly at the 75 year old distinguished gentleman and his wife at close range. It was two shots to his chest. His wife watched as he succumbed to his bullet wounds outside of a temple in Malaysia, unable to help, herself hurt. This is not an excerpt from any mystery novel, but the real life tragedy that met Hussain Ahmed Najadi. We try to find out more about the man.

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AUGUST / SEPTEMBER 2013

OBITUARY

N

ajadi was born in 1938, after his parents had migrated to Bahrain from Persia. Growing up, he was always enterprising and fiercely independent. To the British authorities in colonial Bahrain, he seemed to be a rebel, a dangerous student activist and trouble-maker leading the agitation for independence, he was even expelled from Bahrain as a teenager for plotting against the British.

Throughout a four-decade career of sensational highs and lows in global finance, sales and business, he never abandoned his commitment to social justice and the human side of capitalism. His autobiography, ‘The Sea and The Hills’ highlights his unending commitment to improving the lives of those around him.

“My own story starts in a different era. Life then had been lived as it was by generation upon generation for perhaps a thousand years. This tradition provided society with its rules and ritual, its comfort and stability. From my youngest years onwards, I was to break the mould of that tradition.” And break from tradition he did.

Some considered him overconfident, when he announced his intention to become the leader of wholesale and corporate banking in Malayasia within five years. He proved his critics wrong by meeting his target in two years.

He is most known for having founded Arab-Malaysian Development Bank in 1979 (later renamed AmBank).

The AmBank Group was founded in 1975 as Arab-Malaysian Development Bank by Mr. Najadi via his holding company AIAK (Arab Investments for Asia Kuwait). He brought the bank public via the Kuala Lumpur Stock Exchange (KLSE) in 1981.

But that was not his sole claim to fame. He was considered a pioneer in the financial world, he had been the first to take American mutual funds to the Middle Eastt; he sold advanced hydrofoil technology that his company developed to the Japanese, he was the first Arab merchant banker to link the Middle East countries to the economies of Malaysia, and other ASEAN member countries. He was also a frequent speaker at conferences and forums.

“My own story starts in a different era. Life then had been lived as it was by generation upon generation for perhaps a thousand years. This tradition provided society with its rules and ritual, its comfort and stability.

From my youngest years onwards, I was to break the mould of that tradition.”

He founded and served as director of the Euro-Asian Center at the prestigious INSEAD business school at Fontainebleau, France (1977-85), while also chairing the initial gathering of developing countries at the Davos Economic Symposium (World Economic Forum), Switzerland.

His philosophy, according to those close to him, was the golden triangle: harness Western technology, management, know-how and achinery with Asian natural resources and labor and Arab Capital.

His death was a tragic one, which sent shockwaves though the financial industry.

His 45-year-old son Pascal Najadi has expressed shock over the murder of his father, and said the irony was that his father was murdered in Malaysia, a country for which his father had so

much affection, having called it home for more than four decades.

Mr. Hussain Ahmed Najadi was laid to rest at the Mont Kiara Muslim Cemetery, in Malaysia. The end of what he believed was an ‘extraordinary life’, a life where where he grabbed every opportunity that came his way.

“Whether I was destined to, or took it upon myself; whether it was the time and the place that presented the opportunity, I was carried upon the shoulders of chance and, indeed, made the most of it. Yet one never loses the responsibility to remain true to his character, his internal conscience.”

The motive is not clear and the investigation continues. At the time of going to print, the Malaysian police had identified his shooter, and say that the motive might be a property deal gone sour.

AUGUST / SEPTEMBER 2013

79

OBITUARY

BIDDING ADIEU

TO A LEGEND A Tribute To Mr. Abdulla Nass Mr. Abdulla Nass is one of the visionaries behind the modern financial hub that Bahrain has become. He passed away on July 28 2013, but he leaves behind a legacy that can never be forgotten.

B

orn in 1936 in Muharraq, the young Abdulla Nass studied at the Al Bidaya School, and moved on to the Technical School of Manama to complete his schooling. While he was at school, he worked at a local garage where he spent his afternoons learning about engines and mechanics.

His first step into the construction world was when he moved to Jubail in Saudi Arabia at the age of 15, where he worked as an assistant. His main task was to translate construction bid documents from English into Arabic, but he used this time to learn everything he could about the industry. At the age of 21, he was offered a partnership in the firm and he stayed on for approximately another ten years.

In 1963, he returned to Bahrain and founded the Nass Group.

Throughout the 70’s and 80’s, he built a name for himself in the international market by honoring contracts by delivering the highest quality work at the best market prices.

Right from the early seventies, he explored opportunities to diversify the Nass Group and launched companies like the Artland Interiors in 1978, Gulf Development Corporation in 1986, Bahrain Organic Products in 1997, Nass Tech in 2003 and Nass Corporation B.S.C. in 2005, to name a few. His business success covers both Bahrain and the wider Middle East region.

Mr. Nass firmly believed in the development and empowerment of Bahrain and its people. As such, he expanded Nass The Group to include Applied Science University of the Kingdom of Bahrain. The university earned its license and accreditation from the Cabinet on July 5, 2004. At that time it became the first private university in Bahrain and is authorized to teach in both English and Arabic.

The Nass Group has made significant contributions to the development of Bahrain’s commercial and industrial infrastructure, undertaking a range of projects in the economy’s key sectors.

Mr. Abdulla Nass is recognized as an industry leader in the construction field and highly respected by many as being one of the most successful businesses men in Bahrain.

He has been an inspiration to many a young Bahraini and his presence will be sorely missed. He leaves behind his companies, which are now taken care by his children and a legacy that will continue to build a Bahrain that is progressive and futuristic.

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AUGUST / SEPTEMBER 2013

Clockwise: Mr. Abdulla Nass; Mr. Nass at the Abdulla Nass Cup Event in 1980’s, Mr. Nass signing a million dollar deal & Mr. Nass with the Late Amir, HH Shaikh Isa Bin Salman Al Khalifa.

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