Latest news with #AbdullahbinAdelFakhro
Daily Tribune
02-06-2025
- Business
- Daily Tribune
Bahrain and Saudi Arabia Strengthen Economic Ties in High-Level Business Council Talks
Abdullah bin Adel Fakhro, Minister of Industry and Commerce, held talks yesterday with a delegation from the Saudi side of the Bahraini-Saudi Joint Business Council, in the presence of Mr. Mohammed Abdul Jabbar Al Kooheji, Second Vice President of the Bahrain Chamber of Commerce and Industry, and a number of Chamber members. They discussed the depth of the strategic relations between Bahrain and Saudi Arabia and ways to strengthen the bonds of cooperation. The meeting also reviewed the most prominent joint efforts to enhance trade and investment exchange and expand the horizons of economic partnership. Focus was also on key joint initiatives and projects, enhance economic diversification and create new investment opportunities. The importance of continuing joint work to achieve the desired economic integration and further enhance cooperation in various fields was emphasized.
Daily Tribune
29-05-2025
- Business
- Daily Tribune
Bahrain, Saudi push strategic Economic Partnership
TDT | Manama Bahrain and Saudi Arabia have taken a new step in advancing economic integration, launching a raft of joint sectoral committees and strategic initiatives at the eighth meeting of their Joint Business Council held in Manama on Wednesday. The meeting brought together ministers, diplomats and business leaders from both nations, reflecting the intensifying drive to harmonise commercial frameworks under Bahrain's Economic Vision 2030 and Saudi Arabia's Vision 2030. Shared path forward H.E. Abdullah bin Adel Fakhro, Bahrain's Minister of Industry and Commerce, described the bilateral relationship as a unique model of Gulf integration that transcends borders. He noted the Kingdom's enhanced investment landscape and welcomed the decision to treat Bahraini products as local within the Saudi market, calling it a 'landmark enabler' of economic fusion. Saudi Ambassador to Bahrain H.E. Nayef bin Bandar Al-Sudairi echoed the call for joint execution, saying the council is one of the arms through which the aspirations of both leaderships can be transformed into sustainable economic growth.
Biz Bahrain
15-05-2025
- Business
- Biz Bahrain
UAE Investors Centre inaugurated in Bahrain
The UAE Investors Centre was inaugurated at Bahrain Financial Harbour. The centre, affiliated with Bahrain's Ministry of Industry and Commerce, was launched in the presence of Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, and Abdullah bin Adel Fakhro, Minister of Industry and Commerce. Fahad Mohammed Salem bin Kardous Al Ameri, Ambassador of the United Arab Emirates to the Kingdom of Bahrain, commended the initiative, describing it as a key step towards enhancing economic and investment cooperation between the UAE and Bahrain. He noted that the centre would open new avenues for UAE investments across various sectors, reflecting the longstanding ties between the two countries and their peoples. The Ambassador said that the establishment of the centre reflects the directives of both leaderships to deepen economic partnership and support sustainable development goals. He highlighted the centre's role as a dedicated platform to facilitate investment flows and strengthen private sector collaboration. He commended the integrated services provided, which include streamlined company registration, commercial licensing, and tailored investment advisory support for UAE investors seeking to grow their business operations in Bahrain. The Ambassador also commended the efforts of the Government of the Kingdom of Bahrain in fostering a competitive and welcoming investment environment. He noted Bahrain's commitment to encouraging joint ventures and easing procedures for UAE companies seeking to establish operations in the Kingdom, thereby enhancing Bahrain's position as a leading investment destination in the region. He emphasised that the inauguration coincides with the entry into force of the Investment Promotion and Protection Agreement between the two countries this month. He described this alignment as a significant milestone that will support the launch of new investment initiatives in Bahrain and further develop economic cooperation. He extended his congratulations on this initiative, which he said would contribute to sustainable economic growth and closer commercial ties between the two countries. BNA(R)
Gulf Insider
20-04-2025
- Business
- Gulf Insider
Bahrain: Ministry Urges All Businesses to Adopt Electronic Payment Methods'
The Ministry of Industry and Commerce has called on all commercial establishments operating in the Kingdom of Bahrain to begin taking necessary steps to comply with Resolution No. (43) of 2024 concerning payment systems for commercial transactions. The deadline for full implementation is June 13, 2025. Under the new regulation, both existing and newly established businesses are required to open a commercial bank account with a licensed financial institution in Bahrain. Additionally, they must offer at least one electronic payment method, such as a point-of-sale (POS) system, electronic payment gateway, or approved e-payment platforms. His Excellency Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, emphasized the importance of this transition, stating:'We are entering a new era of financial and commercial development in Bahrain. We encourage all businesses to seize this opportunity to modernize their operations and adopt secure, efficient digital payment systems.' He added, 'Resolution No. (43) of 2024 is not only a legal requirement, but also a strategic step toward enhancing financial processes and promoting transparency. We strongly urge all commercial entities to take immediate action to ensure a smooth and secure transition into a more advanced and safe financial environment.' The Ministry's initiative aims to align Bahrain's business ecosystem with international best practices in digital commerce, while also improving the security and efficiency of financial transactions in the Kingdom. Businesses seeking more information or guidance on implementing the requirements are encouraged to contact the Ministry or visit its official channels.
Daily Tribune
19-04-2025
- Business
- Daily Tribune
Ministry Urges All Businesses to Adopt Electronic Payment Methods"
The Ministry of Industry and Commerce has called on all commercial establishments operating in the Kingdom of Bahrain to begin taking necessary steps to comply with Resolution No. (43) of 2024 concerning payment systems for commercial transactions. The deadline for full implementation is June 13, 2025. Under the new regulation, both existing and newly established businesses are required to open a commercial bank account with a licensed financial institution in Bahrain. Additionally, they must offer at least one electronic payment method, such as a point-of-sale (POS) system, electronic payment gateway, or approved e-payment platforms. His Excellency Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, emphasized the importance of this transition, stating: "We are entering a new era of financial and commercial development in Bahrain. We encourage all businesses to seize this opportunity to modernize their operations and adopt secure, efficient digital payment systems." He added, "Resolution No. (43) of 2024 is not only a legal requirement, but also a strategic step toward enhancing financial processes and promoting transparency. We strongly urge all commercial entities to take immediate action to ensure a smooth and secure transition into a more advanced and safe financial environment." The Ministry's initiative aims to align Bahrain's business ecosystem with international best practices in digital commerce, while also improving the security and efficiency of financial transactions in the Kingdom. Businesses seeking more information or guidance on implementing the requirements are encouraged to contact the Ministry or visit its official channels.
