Bahrain is celebrating today (October 27) the centennial of the establishment of the first bank in the country.
The celebrations are being held under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa.
The banking sector has a great importance in the kingdom for in addition to its historical depth which goes back as early as before the 1920’s of the last century, the sector represents one of the pillars of Bahrain’s strategy to diversify sources of revenues and broaden the scope of economic activities, said a Bahrain News Agency report.
HRH the Premier’s patronage of the centenary of the banking sector is an extension of his pioneering role in shaping economic growth in the kingdom throughout its modern history which yielded many dividends including development of the banking services sector and mapping out policies for comprehensive development.
During the celebration of the centennial of the banking sector, which will witness a massive turnout, a memorial depicting the sector’s glorious history will be unveiled.
The first book highlighting the sector’s growth and accomplishments, entitled “Bahrain’s Banking Sector-100 years of Challenges and Achievements’, will also be released on the occasion.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).