Gulf Insider March 2021 by Gulf Insider Media

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March 2021 | ISSUE 189

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Gulf Financial Insider

Contents March 2021 Issue 189

22 18 Simply unparalleled online presence that connects region’s most inspired communities.

06 08 12 14 18 20 22

Eight Big Surprises for 2021 - Julius Baer Welcoming Hilton to Bahrain Safe Retreats - Elite Hospitality Group Diversifying Academic Portfolio - AUBH Why real estate is a superior investment in Bahrain NBB’s Innovative Solutions in the Midst of COVID-19 Elevating Aviation - Bahrain International Airport

Knowledge is power

Publisher & Editor in Chief

Nicholas C. Cooksey

Comment...

Editorial

Angela Acosta Elyzabeth Ramirez

Editorial Contributors

Nicholas Cortes Bill Daly

Sales & Business Development

Charlie Cooksey

A picture is worth a thousand words.

Layout Designs

Dhanraj S

Admin & Finance

Nikesh Pola

Here's last month’s most 'Liked' #BestInBahrain picture posted to our social media.

Photography

Angelo Jose A

Distribution Mohammed Yousif Aramex Al Ayam For advertising contact Charlie Cooksey +973 3652 0004 charlie@gulf-insider.com

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P.O. Box 26810, Kingdom of Bahrain Tel: +973 1700 4575 Fax: +973 1772 1722 Printed at Awal Press, Kingdom of Bahrain. Registered with Ministry of Information approval no. TFI-431©. No part of this publication may be reproduced in any manner without the written permission of the publisher. All Rights Reserved. Views expressed in this magazine are not necessarily those of the publisher. Bahrain Bd2 | KSA sr20 | Kuwait Kd1.75 | Oman ro2 | Qatar Qr20 | UAE dHs20

MArch 2021 | ISSUE 189

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The multi-award winning Arabian Magazine

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Gulf Insider speaks to Manfred Bräunl, CEO of Porsche, Middle East and Africa FZE

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49th National Day SpeCial eDitioN DEcEmBEr 2020 | ISSUE 186

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Money & Business

Eight Big Surprises for 2021 Swiss Wealth Manager, Julius Baer takes us through eight events that would qualify as “low probability-high impact” in 2021. Thinking the unthinkable Expecting the unexpected does not only defy linguistical logic but also, is a very hard thing to do. After issuing our yearly outlook expectations, we are regularly asked about what could go wrong and what would be the most devastating things that could happen. That usually leads straight into black swan discussions. This is when we throw in that even Nassim Nicholas Taleb, who hammered the term ‘black swan’ into the consciousness of the financial community, has declared that neither the Great Financial Crisis nor the Covid-19 pandemic qualify as black swan events as these types of risks have been known for generations. We therefore settle on the term ‘low-probability, high-impact events’ hereafter to discuss the uncertainties in the months ahead.

1: An utterly dull 2021 disappoints highflying hopes After coming out of a crisis, investors expect things to continue as least as 6

Gulf Insider March 2021

spectacularly – for good or bad – as during the crisis. History tells a different story. After the heavy interventions of policymakers, markets tend to calm down. This can be seen in chart 1, where we show the US Federal Reserve’s policy rate as a leading indicator for market volatility. By this measure, the level of price fluctuations

should break down by summer 2021.

Hedging strategy #1: ‘Stay put or

trade like hell’ – i.e. either accept the low volatility environment and respond by minimising transaction costs, or use the minimal shifts by being more active to capture any divergences in the short run.

Money & Business

Christian Gattiker,

Mathieu Racheter,

economies and validates the current capital flows into emerging market bonds. Funnily enough, the long-awaited breakdown of globalisation can be found anywhere but in the trade numbers.

against emerging market currencies, investors would focus on the external vulnerabilities of individual emerging markets.

Head of Research

2: Wave three of the virus ahead and vaccine does not work This one sounds as familiar as disconcerting. In this scenario, a third coronavirus wave would emerge and cause renewed restrictions before vaccinations are rolled out. According to investor surveys in 2020, a malign mutation of the virus was the biggest fear of investors.

Hedging strategy #4: Buy reflation

Hedging strategy #2: Build up

5: Bond markets crash, yields spike

safe-haven assets (US Treasuries, German bunds, gold, etc.) based on epidemiological evidence.

3: US dollar bear The US dollar enters a bear market and weakens beyond any forecast, most likely due to a policy mistake such as the Federal Reserve applying negative rates to their banking system or something going terribly wrong in Washington.

assets such as emerging market stocks and bonds as well as commodity grades; buy mature market cyclicals.

Against all odds, the economy comes back faster and stronger. Even central banks start to doubt their statements earlier in the crisis of keeping rates low forever. Hence, bond markets price in the new reality and crash on better growth and inflation prospects; yields surge accordingly.

Hedging strategy #5: Buy developed

market cyclicals/commodities as long as the US 10-year yield stays below 5%.

Hedging strategy #3: Buy gold and/or

6: Emerging market crises resume

4: Globalisation redux

A pre-emptive reversal of loose fiscal and monetary support in mature markets leads to renewed capital outflows out of emerging economies. The market would then start to price in rate hikes and this would trigger a prompt reversal of capital flows out of emerging markets into developed markets. As emerging market asset prices fall and the US dollar appreciates

assets denominated in other currencies with limited US dollar exposure such as European or domestic Asian assets.

Globalisation 2.0: a 2009-style rebound of global trade volumes with more exchange of information technology in the wake of Covid-19 leads to the better growth of emerging

Strategy Research Analyst Emerging Markets

Hedging strategy #6: Buy safe-haven assets in hard currencies and gold.

7: Stock market ‘melt-up’ à la 1987 After some scepticism, the TINA (‘There Is No Alternative’) narrative becomes the encompassing mantra of financial markets and stocks rise further. This triggers momentum players to jump on the bandwagon, leading to investors piling into stocks.

Hedging strategy #7: Put all your

eggs into one basket and watch the basket (to paraphrase Warren Buffett).

8: Information technology stocks meet their baby-Bell moment After reaching consensus about the market abuse of monopolies, the new US administration breaks up large IT companies in an unprecedented move similar to the anti-trust actions in the telecommunications or oil industries during the last century.

Hedging strategy #8: Buy brick-and-

mortar businesses in the run-up to the event, thereafter buy the runners-up across the world, then buy the brokenup parts. Gulf Insider March 2021

Money & Business

Welcoming Hilton to Bahrain

Gulf Insider interviews Jochem-Jan Sleiffer, the President of Middle East, Africa & Turkey for Hilton.

Gulf Insider March 2021

Money & Business

three different properties. After a while, I became the regional manager for France. I then got my first vicepresident operations job for Central Europe which was 21 hotels at the time. In four years, I was running Eastern and Western Europe which was around 120 hotels. I moved to Dubai in the 1st of January last year and started running 167 hotels in the Middle East, Africa and Turkey. When I started in 2020, we had a difficult start with the handover and the Covid-19 pandemic. The rest was history.

Why are you bringing the Conrad brand to Bahrain and not Hilton Hotels & Resorts?

When I started in 2020, we had a difficult start with the handover and the Covid-19 pandemic. The rest was history.

ell us about your career journey to become Hilton’s President in the Middle East, Africa & Turkey region?

When I was about seven, we stayed in a hotel and I remember writing an essay about what I wanted to become. In the essay, I said I will go to a Swiss hotel school, buy a hotel, chefs, maids and ask my friends to spend the weekend. I was very young but I knew that I wanted to work in hotels. At 15, I was washing dishes at a local restaurant. I didn’t get accepted in a hotel school so I went to study facility management and did my internship at Hilton in 1989. When I started at Hilton, I only worked eight months where I’m from and moved to Brussels where I had different operational jobs. I moved as a general manager in Athens for four years and soon in London for

We needed to have hotels here because we had none. It was sort of an empty spot in our map. Typically, when we develop hotels we’re a bit dependent on the owners. When the owners build a hotel and we see which brand best fits it. Ideally, I think the city would like at least one of all of our brands here. We’re bringing three brands to Bahrain. The first one that’s going to open is the Hilton Garden Inn Bahrain Bay in Q2 this year. It is situated next to the Avenues Mall, making it the ideal location for a business trip or weekend shopping break and each of its 192 rooms will enjoy unspoiled views over the bay. Hilton Garden Inn is a midscale brand which has helped open up that segment of the market in other parts of the region (such as Dubai and Saudi Arabia) and we are confident it will be a success here too. The next one is the Hilton Bahrain Juffair with 350 rooms – from studios to three-bedroom apartments. Meanwhile, the Conrad in Bahrain will be the first Conrad Residence in the Middle East. It will have 98 luxury apartments.

How big is the Conrad Residences Bahrain Financial Harbour going to be? What are its USPs? The size of the rooms will be significantly larger than any other residence and the materials used Gulf Insider March 2021

Money & Business

are topnotch. It will have a fully-fitted kitchen and other quality facilities. Furthermore, the Conrad Residences will have an all-day dining restaurant as well as a fantastic rooftop pool lounge and grill. It will offer a fully equipped gym, outdoor pool and a boardroom. You can go for a walk and think: this property ticks a lot of boxes.

There is an increased supply of hotels but a lack of demand for them, especially in Bahrain. Share your insights on this. I think Bahrain doesn’t have enough quality rooms today. It’s good to bring in some of the big brands. It feels a bit empty now but as soon as the borders will open, I think people will travel to Bahrain again. What I’ve been impressed about with the three owners of the three different hotels, is that everybody has the same vision of creating something special here. They want to build enough attractions in Bahrain for people to actually come here. Everybody always looks at Dubai, Dubai, Dubai. Dubai has a lot of good 10

Gulf Insider March 2021

Everybody always looks at Dubai, Dubai, Dubai. Dubai has a lot of good things but Bahrain has a lot of things to offer as well. things but Bahrain has a lot of things to offer as well.

It’s no secret that the travel and hospitality industry have been struggling for the past months. What have been the silver linings to come from this time? This crisis brought my team and the people we’re working with together – the team members, owners, and the community in which we operate. The culture has been really holding us together as a team because it has been very tough. Everywhere you read now,

people are having a tough time and burnouts and mental health problems. We, as a company, are really looking it into detail. If people say, they’re fine, we ask them if they’re really fine. I think the culture has really brought us even stronger together than we actually were. Second thing is the owners. We’ve seen owners really going through a very difficult time. However, we really stuck together with our owners and we worked together with them; how we can make sure that we preserve cash and how we can make sure they get through this in a good way. The third one is the communities in which we operate. This was also our time to show the communities that we’re not just the international operator. We always advise our general managers to be locally relevant. We have a global month of service every year in October and November where we promote educational development of young people. People that don’t have the same the same life as we have. I think all indicators show that we have a good business model.

ELITE Winter Escape

Elite Seef Residence & Hotel Elite Grande Hotel

Elite Resort & Spa

BD 33 Net

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• Rates are in Bahrain Dinars and Inclusive of taxes and service charge. • Inclusive of packed breakfast in the suites • Inclusive of Wifi Internet connection • Above rates are applicable till 10th May 2021 * Terms and conditions apply

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People & Culture

Safe Retreats Elite Hospitality Group continues with the Elite Salamatik program at all their hotels across Bahrain.

lite Salamatik ensures that every guest has a safe stay with their family and friends. The hotels have taken various steps to protect their guests and employees, to ensure that each stay is safe.

Elite Seef Residence & Hotel Take your family to explore the special winter offer at the Elite Seef Residence & Hotel located at the center of the Kingdom’s main shopping area. Their one and two-bedroom family suites are elegantly furnished in modern leather interiors. The suites include a

Gulf Insider March 2021

fully equipped modular kitchen, lavish bathrooms, a home theatre system with in-house TV channels, digital satellite television system and 24 hours personalized room service with special menus. The one-bedroom suite starts at BD 33 net per night and includes WiFi and a packed breakfast meal for two.

Elite Resort & Spa Overlook the sea while enjoying the exquisite experience at the Elite Resort & Spa which promises both an exciting and relaxing atmosphere. This winter, the spacious onebedroom suite offer starts at BD 33 net

per night, and includes free WiFi and a packed breakfast for two. The elegant two-bedroom suite is the perfect choice for a family of four to unwind. The suite offer this winter starts at BD 55 net and includes a personalized packed breakfast service. If you are vaccinated, you can enjoy even more privileges. Show your vaccine passport and avail a whole 30% discount at Al Naseem, the poolside restaurant open air dine-in. This month, they will be lounging their special Ramadan Iftar menu at a special rate of BD 9 net per person.

People & Culture

Elite Salamatik ensures that every guest has a safe stay with their family and friends.

Elite Grande Hotel

Elite Hospitality Catering

Looking for a family-time retreat? The offers and promotions this winter are designed for the perfect winter escape. Their two-bedroom family suite is just the place to unwind in a relaxing atmosphere along with their personalized service by a dedicated team. Each suite, offered at BD 50, is lavishly furnished with grand bathrooms, complete home theatre systems in each bedroom with DVD, and HDTV satellite channels, high-speed internet, and digital safe-deposit lockers. The offer is inclusive of a breakfast meal for four with hot beverages and selected fresh juices.

The excellent food and service Elite is known for is now delivered to your doorstep. Specializing in institutional catering in offices and factories, Elite Hospitality Catering is supplying to large corporates, banks, factories and ministries. They also cater for events such as receptions, cocktail parties, BBQ’s, birthdays, anniversaries and graduation celebrations.

For bookings and more details please call: +973 17 558 200 or visit their website: www.elitegrouphotels.com

Gulf Insider March 2021

People & Culture

Diversifying Academic Portfolio Gulf Insiders talks to Dr. Susan E. Saxton, Founding President of the American University of Bahrain to know how the university is diversifying its academic portfolio. 14

Gulf Insider March 2021

People & Culture

hat’s new at AUBH?

We are so excited to welcome 2021 with new degrees, new students and new partnerships! It is an exciting time at AUBH. Not only were we able to welcome students back on our beautiful campus last fall, thanks to our dual-modality learning experience and outdoor activities and events, but we also have three new undergraduate programs and three new graduate programs in the pipeline and under approval with HEC. Today, we are of course offering our learning experience online, in line with the Council for Higher Education’s directives until March 14th, however, hope to welcome

AUBH will be able to offer students access to the largest public University network in the United States.

our students back on campus as soon as it’s possible to do so. Adding to our list of recent accomplishments is that we are now welcoming international students from fourteen different countries, adding to our already diverse student body. AUBH is receiving a growing number of transfer students who wish to continue an American-style education in the GCC. These are students who started their education abroad, but now with our innovative academic approach, they are choosing to study closer to home. Last year we announced our pursuit of a partnership with California State University Northridge (CSUN), one of the campuses in the 23-campus network of the internationally renowned California university system, and we are now cementing this partnership, subject to HEC approval. With CSUN as an academic partner, AUBH will be able to offer students access to the largest public University network in the United States. AUBH students will have a pathway to earn a degree directly from CSUN at the undergraduate and graduate level. Students with a desire for international experience will have the opportunity to study abroad at the CSUN campus in Los Angeles, home of Hollywood, a short step away from the famous Silicon Valley, the Getty Center, the Los Angeles County Art Museum and many other culturally and academically enriching experiences.

You’ve recently told us about your partnership with Atnafas. How can the students benefit from this? We are constantly creating added value for our students and exploring ways they can engage with the business community, and our partnership with Atnafas is part of that commitment. Atnafas Creative Production is one of the leading social media marketing and production houses in Bahrain. Founded by Bahraini social media influencer Mr. Omar Farooq, Atnafas will support AUBH students by providing tools, resources and knowledge on creative direction, campaigns, films and social media while offering information sessions to students. Together, AUBH and Atnafas Creative Production will be hosting multimedia projects and events, workshops and a speaker series on campus. This fits perfectly with our upcoming range of digitally-focused degree programs, and we will be adding to our partnership portfolio to enhance the student experience.

Can you tell us more about how AUBH is diversifying its academic portfolio? AUBH is broadening the educational scope of our academic programs in two directions, vertically and horizontally. We are hoping to offer the following degrees at the graduate level very soon: a Master of Science in Engineering Management, Master of Business

Gulf Insider March 2021

People & Culture

Administration, and Master of Arts in Multimedia Management, subject to HEC approval. For our students who want to continue study after their undergraduate experience, or those who are working, already have a Bachelor’s degree, and are looking to sharpen their industry skills, there are new program options for their continued education. Horizontally, we are widening the scope of our existing Colleges by offering three new bachelor’s degrees: Bachelor of Science in Civil Engineering, Bachelor of Business Administration in Digital Marketing and Social Media, and Bachelor of Business Administration in Human Resource Management. As AUBH continues to make its mark on the GCC and beyond, these programs will continue to expand and grow.

Are there specific changes that you would like to see at AUBH? I am very proud of AUBH and all that we have accomplished and my main goal as President is to keep building our brand, growing the AUBH culture and expanding the program options with quality and integrity. This means more degree programs, international students, Bahraini students, corporate partnerships and scholarships. We continually assess market and economic 16

Gulf Insider March 2021

demand. AUBH can become the hub of academic excellence in the GCC and beyond, resting on a solid foundation of core degree programs that prepare our students for a lifetime of success.

How is AUBH ensuring that its future graduates will be ready for the job market? Every degree program at undergraduate and graduate level that AUBH offers carefully considers how to academically challenge a student while simultaneously preparing them for a rewarding career. It is a core part of our mission to prepare students for an evolving and competitive job market. This is why AUBH curricula is built to equip students with the knowledge and soft skills to succeed in a rapidly ever-changing environment. Students enrolling in AUBH are exposed to a university life that is very much influenced by collaborative learning, critical thinking, and technical education in an American-style University environment. Beyond the academic education that the students receive, they assimilate mentorship in soft skills and competencies including problem solving, negotiation and creative thinking with the purpose

of empowering the next generation with the confidence, leadership and professionalism skills required in the workforce. They will also be able to experience social, athletic and other extra-curricular activities making AUBH home. It is soft skills like these that will set our students apart from other graduates. Our American style of education’s flexibility also supports students in finding the career path that is right for them. During their first two years of University, they can change their mind about the degree program they are enrolled in, while transferring over a maximum number of credits. They also engage in speaker series, professionals engaging in-class with them, internships, and joint projects with companies which provide them with a more holistic view of how the industry is built, works, and where they see themselves evolving within that context. Being supported by the Mumtalakat portfolio through the Elm Fund, has also given us the access to Bahrain’s most coveted places of employment and we are currently working with these companies on corporate partnerships to solidify our community’s experience at AUBH.

School search made easy...

Money & Business

Here’s why real estate is a superior investment in Bahrain Did you know that you can earn as much as BD5,434 return per year when you invest in Kazerooni Heights?

any people in Bahrain have traditionally turned to stock market, fixed deposits, bonds and more when investing. While these are popular choices, investing real estate is also an excellent option. Under the right conditions, real estate can offer greater diversification, lower risks and better returns. Interested in investing? Here’s why you should consider Kazerooni Heights’ Buy-Back Option with a 6.5% Return on Investment for 5 Years:

A healthy investment Returns from several investment options like stocks, bonds and fixed deposits may either be highly unpredictable, limited or lower than

Gulf Insider March 2021

expected. For example, Bahrain’s deposit rate* averaged 1.52% from 2006 to 2020, reaching an all time high of 5% in February of 2007 and a record low of 0.50% in September of 2009.

*Source: Central Bank of Bahrain via Trading Economics Meanwhile, Kazerooni Heights offers a 6.5% annual return for 5 years – a rate which is considered healthy especially when it is guaranteed by a trusted developer like them.

A guaranteed 6.5% yearly Internal Rate of Return (IRR) This means that you can acquire a guaranteed 6.5% annual return depending on the size of apartment you invest in. Yes, it is possible to earn as much as BD5,434* yearly!

Money & Business

With buy-back option During the fourth year, you will be able to exercise your buy-back option. In a nutshell, the developer will buy back the unit from you after the 5-year contract. This means that you can enjoy a “risk free” way of capitalizing on the real estate sector in Bahrain.

Hassle free investment Below is a simplified table of how much you can earn when investing in Kazerooni Heights. Investment option: 6.5% annual return in 5 years with buy back option Size of Apartment

Starting Apartment Price

Total Return on Investment

Annual Cash Income

1 Bedroom Unit (88sqm)

BD83,600

BD27,170

BD5,434

2 Bedroom Unit (128sqm)

BD121,600

BD39,520

BD7,904

2 Bedroom Unit (164sqm)

BD151,700

BD49,305

BD9,861

2 Bedroom + Maid’s Unit (167sqm)

BD158,650

BD51,560

BD10,312

3 Bedroom + Maid’s Unit (253sqm)

BD253,000

BD82,225

BD16,445

3 Bedroom Duplex Unit (247sqm)

BD247,000

BD80,275

BD16,055

When you choose the above investment option, you won’t need to worry about finding a tenant for your apartment as this will be handled by the developer. Furthermore, all service charges and maintenance expenses will also be covered by the developer for these 5 years.

A great way to diversify your portfolio When you diversify your portfolio, you spread out the risk. Real estate will always serve as a tangible asset to mitigate the risk in your portfolio.

To know more about the ownership and investment options, download Kazerooni Height’s calculator here. For actual availability and detailed prices, call +973 3977 0009.

*Total return on investment varies depending on the size of apartment. Gulf Insider March 2021

Money & Business

Licensed by CBB as a conventional Retail Bank.

NBB’s Innovative Solutions in the Midst of COVID-19 An interview conducted by the Gulf Insider

n an interview with the Gulf Insider, the National Bank of Bahrain spoke candidly about the innovative solutions it has implemented to adapt to the challenges and shifting industry dynamics following the emergence of COVID-19. Representing the bank was Yaser Alsharifi, Chief Strategy Officer, Razi Amin, Head of Information Technology, and Omar Al Adhami, the Head of Retail Digital Banking who shared their plans and strategies that form the bank’s future roadmap. “NBB has always prided itself on being at the forefront of innovative change, especially when it comes to advancing their digital capabilities to better empower their customers in a fast-paced digital era”, explained Yaser Alsharifi. “What differentiates us from other banks is how we place the

Gulf Insider March 2021

customer at the core of our business strategy and design solutions that are relevant and fulfil current needs. At NBB, everything starts and ends with the customer in mind, an approach which has translated into increased customer engagement”, he added. Although the pandemic forced many banks and businesses to change their strategic approach, it merely accelerated what NBB had already been working on – digital transformation. According to Razi Amin, “NBB has been delving into building robust digital platforms and continuously improving its banking services to enable more customer convenience and accessibility, while substantial investments have been made in upgrading our IT infrastructure to make it more robust and scalable”. The Central Bank of Bahrain has

facilitated a conducive environment for the industry’s development, which enabled NBB to become more progressive, especially in the realm of Fintech. In line with international trends shaping the banking sector, NBB took the lead in rolling out the industry’s open banking framework, capitalizing on its API management and open systems investments. This created an opportunity for enhanced industry collaboration for the benefit of the customer. An important area of focus for NBB has been data gathering and analytics; an area that is considered crucial for the future development of the banking industry, with the bank taking additional steps to educate the customers on the value of data in better managing their wealth. “The IT department at NBB has recently seen a notable surge in digital

Money & Business

banking and online transactions, exceeding 400% in 2020 alone”, explained Razi Amin. “We envision this trend to persist, creating an ideal environment for our new mobile app which the bank considers as a launch pad for future innovations”. It was also noted that the app’s main differentiator is its simple functionality and speed of transactions. NBB has prioritised security whilst implementing a risk-adverse approach. The bank has heavily invested in advanced security systems as well as Artificial Intelligence and machine learning as fundamentals to better understanding their customers and mitigating risk, including cyber-attacks.

NBB’s brand promise “closer to you” has further inspired it to tailor products and services to customer needs while investments in AI will continue to form part of its roadmap in its continuous effort to enhance its solution portfolio and service offering. “As the pandemic took its toll in 2020 with lockdowns and social distancing measures coming into play, the bank saw a significant shift in customer behaviours. Many of our existing customers quickly migrated on to our digital platforms, while we saw new demographic segments being added to our customer base”, explained Omar Al Adhami. “We ensured that our online presence provided a seamless

Omar Al Adhami

Razi Amin

Yaser Alsharifi

alternative by enabling customers to conduct all necessary transactions remotely, with ease and efficiency”, he added. In its efforts to live up to its promise of being closer to the customer, NBB has committed to being more than a banking provider; the bank is integrating customers at the centre of innovation and creativity, prioritising personalization and convenience to provide solutions that enhance lifestyles. “Customer feedback is an important part of this formula and through focus groups, surveys, and research, we gather data to shape the customer experience”, concluded Yaser Alsharifi. According to NBB, the future outlook of the banking industry is very exciting. The bank anticipates a constant

can use their existing details from the current app to log in. The same applies to beneficiaries; customers will not have to update or re-enter their beneficiary details as all information will automatically migrate from the current to the new app upon login. Customers will benefit from having a bilingual application with an improved registration journey, which means, reduced clicks and speedier results; fast digital registration; fingerprint or facial recognition as well as a password request for added security; diverse product opening options; instant issuance of debit cards with the option of pick up or direct delivery; easy money transfers; Al Watani rewards and increased chances of winning; full management of debit, credit, prepaid cards; and many more features.

NBB has always prided itself on being at the forefront of innovative change, especially when it comes to advancing their digital capabilities to better empower their customers in a fastpaced digital era.

state of evolution driven by dramatic advancements in digital technology which will create ample opportunity for unique products and services that will reshape the industry as a whole.

More about NBB’s new mobile application The new “NBB Digital Banking” app has consolidated all services offered via NBB’s branches into an enhanced onestop-digital-shop with dynamic features and options designed to simplify the customer banking journey. One of the key features of the application is that once downloaded, users are not required to create a new account, but

Gulf Insider March 2021

Money & Business

Elevating Aviation Gulf Insider gets a first look into Bahrain’s new airport terminal!

Gulf Insider March 2021

Money & Business

With its much larger space, the terminal offers an elevated shopping experience as well as improved amenities for passengers.

ust recently, Gulf Air and Bahrain Airport Company (BAC) invited us for a tour around Bahrain International Airport’s brand new terminal. The new terminal began its operations on the 28th of January, a date that marked a new era for Bahrain’s aviation sector. Four times larger than the old airport terminal, the new building has capacity to handle up to 14 million passengers per year. It is the largest green building in Bahrain and is Leadership in Energy and Environmental Design (LEED) Gold-

certified. It has also been designed with the latest technology to offer travellers an efficient journey through the airport. It has 104 check-in counters, 36 passport control offices, e-gates for departures and arrivals. The Duty-Free Area at the new terminal is three times larger than that of the current airport, offering 30 leading brands in Bahrain for the first time. The new terminal also features the Bahrain Airport Hotel & Spa, which will offer transit passengers a variety of accommodation types and facilities. Other passenger services include an airport clinic, and two lounges –the Gulf Air Falcon Gold Lounge and the Pearl Lounge. There are also interactive toys, gaming consoles and climbing domes! With its much larger space, the terminal offers an elevated shopping experience as well as improved amenities for passengers. An example of this is the Souq Al Qaisariya that highlights a broad selection of local products, food and beverage outlets, Bahraini jewelry, an art gallery, and a theatre. The terminal has dedicated spaces that represent the culture of Bahrain. Art installations, local artworks and cultural items depict the country’s heritage and closely knit societal fabric.

Gulf Insider March 2021

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Gulf Insider March 2021

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Most businesses in Bahrain lack advanced digital and social media marketing skills to expertly manage a successful digital strategy, so missing major opportunities they don’t even realize. The good news is we can inexpensively create an effective digital strategy for your business, and manage it for you, for less than the salary of an employee - freeing you to run your business. We also build beautiful websites optimized to generate income for businesses, and provide online services including SEO, design, e-commerce, photography and video production.

For a FREE evaluation of your businesses digital marketing needs. call +973 36 188 100 | 1700 4575