Mazad to partner with Arab Auction on first auction of private vehicle number plates in Bahrain

A cooperation agreement was signed this morning between Mazad and Arabian Auction companies to manage the auctioning of Bahraini private vehicle number plates due to take place next Thursday.
The agreement was signed by Talal Aref Alaraifi, CEO of Mazad, on behalf of Mazad and Abdulla Mattar Al Mannai, Executive Director of Emirates Auctions. 
Alaraifi, highlighted that this agreement with Arab Auction is an important step for Mazad, as the company looks to enhance its links with those companies that have wide-ranging experience in organising auctions on a large scale and to internationally recognised standards.
He added that the agreement signed today will entrust Arab Auction with the supervision and organisation of the first auction of private vehicle number plates to take place in the Kingdom’s history. 
Alaraifi went on to explain that through the deal, Mazad will benefit from Arab Auction’s longstanding experience in organising auctions of this scale. In this regard, Mr Alaraifi stressed that the proceeds generated from the auction will be transferred to the Ministry of Finance.
Alaraifi noted that as companies such as Mazad grow in expertise, these prominent businesses will make an even larger contribution to the Kingdom of Bahrain’s efforts to build a diversified economy. He then expressed his appreciation to the Arab Auction company for their part in this important agreement.
Al Mannai expressed his delight at signing the agreement with Mazad, which he explained was a positive opportunity for Arab Auction to develop its commercial footprint in the Kingdom of Bahrain. In this regard, he went on to note that Bahrain’s commercial infrastructure and organisational structure encouraged businesses like Arab Auction to set-up operations in the Kingdom.

Source : BNA