BAB signs MoU with Turkey's TBB

Bahrain Association of Banks (BAB) and The Banks Association of Turkey (TBB) have signed a Memorandum of Understanding to strengthen the cooperation through expertise exchange, and promoting the attractive financial sector in Bahrain, including the advanced Islamic Banking.
Adnan Yousif, Chairman of BAB said that the size of the joint loans between the Bahraini and Turkish Banks exceeds 2 billion USD, which shows strong financial activity between both parties.
"The Bahraini Banks have strong relations with banks in Turkey since 1982, and from that time the Turkish joint loans are happening through banks and financial institutions in Bahrain, such as Gulf International Bank and the Arab Financial Institution", he added. 
Ekram Keskin, Secretary General of The Banks Association of Turkey commented: "signing the Memorandum of Understanding with BAB is an important step in terms of strengthening relations between financial institutions in Turkey and Bahrain. There is a high potential of joint cooperation due to the existing investment opportunities. People in this region relay on us to implement economic programs, and we are always seeking partnership that enable us to do that in a region which is rich with opportunities".
It is worth mentioning that there are 11 Turkish Banks operating in Bahrain, due to the facilities the Kingdom provides, as well as the legislation related to the Free Trade Agreement.

Source: BNA