Ithmaar Bank, a leading investment bank based in Bahrain, received top honours today (June 3) for its support in fostering learning and the development of young Arabs in the Region.
The award was presented at the International Conference on Higher Education in the 21st Century, which is being held under the patronage of His Majesty King Hamad bin Isa Al Khalifa.
Ahlia University President Abdulla Al Hawaj presented the award, which was accepted on behalf of Ithmaar Bank by Shaikh Salman bin Ahmed Al Khalifa, Managing Director Private Banking.
The Bank counts education and training among its main priorities and is using the event as a platform to promote its recently launched “Ithmaar Education & Training Fund”, targeting talented young orphans from across the Arab World.
“While there are plenty of worthwhile scholarships available to bright students, what makes ours unique is that we have chosen to focus exclusively on the underprivileged. There are many bright and talented youngsters who just don’t get the opportunity to shine. This programme will help make up for the disadvantages they have suffered in their young lives,” Shaikh Salman said.
“We believe that education is the foundation for sustainable economic growth in the Arab World and proud to do our part to support it,” he added.
The four-day conference, which kicked off on Saturday (June 2) at the Gulf International Convention and Exhibition Centre, Gulf Hotel, is organised by Ahlia University, a partner of Ithmaar Bank in a wide range of education initiatives.
The event features expert speakers from the UK, US, Switzerland, Turkey, Jordan, Egypt, UAE and Bahrain, tackling a wide range of subjects.
“This award is in recognition of Ithmaar Bank’s commitment to the education sector as exemplified by its scholarship offerings and support for this conference,” said Al Hawaj.
“We look forward to working with the Bank on these and future collaborations in the field of education.”
The Fund includes two separate initiatives, one for school students in Bahrain and the other targeting those seeking higher education throughout the Arab World.
Ithmaar Bank, in partnership with the Royal Charity Association, will sponsor six orphan students every year, three boys and three girls, giving them the opportunity to attend top private schools in Bahrain. The Bank will cover their education starting from second grade until they complete high school.
The second initiative, in association with Ahlia University, is wider in scope, provide higher education sponsorships for a total of 10 orphan students every year from across the Arab World.
To qualify for either of these programmes, students must demonstrate high scholastic standards and be registered as orphan students with the Royal Charity Association.
About Ithmaar Bank
Ithmaar Bank B.S.C. is licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange. It has a paid-up capital of US$360 million and total equity of US$964.5 million and is a full investment bank, with businesses covering the Middle East and North Africa (MENA) region, as well as South Asia, Asia-Pacific and Europe. Besides holding significant investments in the banking, financial services and real estate sectors in different markets, the main activities of the Bank include underwriting business (equity and other financings), private equity (structuring, participation and portfolio management), project financing, and advisory business (capital market, merger & acquisitions and project advisory).
Ithmaar Bank’s flagship subsidiaries and affiliates include Shamil Bank, Solidarity (an Islamic insurance company headquartered in Bahrain); Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan) and Ithmaar Development Company (operating in and from Bahrain).
For more information on Ithmaar Bank, please visit the Bank’s website on www.ithmaarbank.com
