Bahrain-based Ithmaar Bank today presented 120 orphan-children with tickets to the 2007 Bahrain Grand Prix along with t-shirts, earplugs and food vouchers. The Bank employees will watch the Grand Prix together with the children in celebration of the Arab Orphan Day which falls in April.
The children attending the event have been invited to enter a writing competition whereby all the orphan-children attending the race will write about their experience. The winning article will be published in all the local newspapers.
Young photographers will also have the opportunity to showcase their talent. Ithmaar Bank is providing every child with a pocket camera to take pictures of the Grand Prix race. The best picture will receive an award from the Bank and will be published alongside the article.
A total of 80 employees from Shamil Bank and Ithmaar Bank will be attending the Grand Prix along with the 120 children. The orphans, aged between 10 and 15 years old, were selected from different schools in the Kingdom by the Royal Charity Association.
Ithmaar Bank plans to make this an annual initiative, forming part of its continual contribution to the Bahrain community.
"Ithmaar Bank saw the Formula One Grand Prix as a chance to contribute to the community and ensure that those people that may not normally have the opportunity to attend, get the chance. For many of these orphans, it will very likely be their first time to see the F1 and we are very pleased to be able to make this happen for them. This is our way of celebrating Arab Orphan Day and we plan to continue seeking initiatives to ensure these children get as many opportunities in life as any other children,” commented Mr. Ahmed A. Rahim, Managing Director, Ithmaar Bank Group Support
“Today we are only preparing the orphans for the big day on the 15th of April. We are giving them what they will need to fully enjoy this day to deliver on our promise of giving the children the Formula One Grand Prix experience”, he concluded.
In line with this intention to provide needy children with the same opportunities as any other children, Ithmaar Bank recently announced the launch of a US$ 4.2 million fund for higher education scholarships. The fund will drive two major education sponsorship initiatives. These initiatives have been jointly undertaken with the Royal Charity Association and Ahlia University in Bahrain, as part of the “Ithmaar Education & Training Fund” for top performing young needy students.
About Ithmaar Bank
Ithmaar Bank B.S.C. is an investment bank licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange.
Ithmaar Bank, which has a paid-up capital of US$360 million, is a full service investment bank, with operations 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 companies include Shamil Bank, Solidarity (an Islamic insurance company headquartered in Bahrain); Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan) and Ithmaar Development Company.
The Bank’s shares are listed on the Bahrain Stock Exchange.
For more information on Ithmaar Bank, please visit the Bank’s website on www.ithmaarbank.com
