Category: GENERAL

The General Authority for Real Estate is participating in the international trade fair for property and investment (EXPO REAL) held in Munich, Germany, between October 4 and 6.

The authority's participation comes through a pavilion that reviews the Kingdom's most important real estate laws, among the most important enablers and catalysts to raise the attractiveness of real estate investments in the Kingdom. The authority aims to meet with leaders and prominent figures of real estate from various countries participating in the exhibition, acquaint them with the real estate investment environment, review the essential experiences in real estate regulation, raise investors' awareness of real estate legislation and the role of laws and regulation in the development of the sector and raise its reliability and investment attractiveness.

Through participating in meetings and workshops within the exhibition, the authority will also review its expertise in organizing the rental sector and the on-map sales system and its efforts in the land register, as well as introducing practitioners to the real estate brokerage system, which is one of the organizations of international interest in the real estate sector.

EXPO REAL, Europe's largest real estate and investment trade fair, hosts real estate stakeholders worldwide.

Source: Saudi Press Agency

His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, Chairman of the Board of Trustees of the Isa bin Salman Education Charitable Trust, today chaired the Board of Trustees meeting, at Riffa Palace.

HH Shaikh Isa bin Salman highlighted the Trust’s commitment to Bahrainis’ higher education by offering educational opportunities that further citizens’ contributions to the Kingdom’s wide-ranging development.

His Highness commended the progress of Bahrain’s sophisticated education sector, which advances in line with the Kingdom’s comprehensive development led by His Majesty King Hamad bin Isa Al Khalifa and supported by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

Topics on the Trust’s agenda were reviewed, including investment plans to develop partnerships to achieve the endowment's financial sustainability, as well as its 2023-2024 scholarship plan for the tenth batch of scholarships for public and private universities across the Kingdom. The plan includes 75 undergraduate scholarships.

HH Shaikh Isa bin Salman extended his congratulations to the new Bahraini scholars, wishing them success on their academic journeys.

HH Shaikh Isa bin Salman commended the support and motivation given by parents and guardians to pupils.

His Highness also expressed his gratitude to the entities and institutions that support the endowment’s efforts and have diversified the annual scholarship plans.

Since its establishment, the Isa bin Salman Education Charitable Trust has provided more than 400 Bahraini students with scholarships.

Source: Bahrain News Agency

upported by the Bahrain Economic Development Board (EDB), FLOOSS, a digital financial services platform born out of Bahrain, has launched its digital consumer lending service to users.

The lending service is a first of its kind where loans are approved in minutes, FLOOSS is a testament to Bahrain’s successful strides in driving innovation in the financial services sector through forward-looking regulations.

Through their mobile app (available on Android and iOS), FLOOSS enables customers to apply for consumer loans of up to BHD 750 and pay off the loan over a period of up to 12 months. FLOOSS aims to leverage technology and data sciences to make lending more accessible for much of the population in order to utilise loans for unplanned expenses, travel, school fees, emergencies, and other financial requirements.

In addition to its license in Bahrain, FLOOSS plans to expand within the KSA as well – a significant step towards achieving its regional expansion plans to tap into the $141.6 billion Bahrain and KSA consumer loans market.

Fawaz Ghazal, Chief Executive Officer at FLOOSS, said that the regulatory framework in Bahrain has played a significant role in their success. "We’re very grateful for the support from the Central Bank of Bahrain (CBB) and Bahrain EDB."

"At FLOOSS, our aim is to make the digital lending process as seamless as possible. Many people need support and fast, we are that innovation in an APP. It provides digital loans without the hassle of paperwork and long processes. Your loan application can be done anytime and anywhere." he added.

Dalal Buhejji, Executive Director of Business Development for Financial Services at the Bahrain EDB, said that Fintech companies like FLOOSS are important for the development of robust digital infrastructure in Bahrain, which is what EDB continue to focus on as part of Bahrain’s financial services strategy, in line with the Economic Recovery Plan.

"The launch of their innovative lending service in Bahrain is another case study to show how forward-thinking regulations can enhance the Kingdom’s business environment and create an innovative and supportive ecosystem, which enables businesses to thrive," she added.

Under Bahrain’s Economic Recovery Plan, the Financial Services Sector Strategy (2022 – 2026) aims to create job opportunities, strengthen legislation and regulatory policies, and develop the fintech subsector.

Source: Bahrain News Agency

His Highness Shaikh Khalid bin Hamad Al Khalifa, Supreme Council for Youth and Sports First Deputy Chairman, General Sports Authority (GSA) Chairman and Bahrain Olympic Committee (BOC) President, today received students who have been selected for the Khalid bin Hamad Gold Generation Initiative.

Present were His Highness Shaikh Salman bin Mohammed Al Khalifa, GSA Deputy Chairman; Dr. Mohammed bin Mubarak Jumaa, the Education Minister, Dr. Abdul Rahman Askar, GSA CEO and presidents of local universities.

HH Shaikh Khalid welcomed the students and their parents, affirming that the initiative dedicating seats in local universities was aimed at encouraging youth to be active players in serving their country.

HH urged the students to put forth their best performance, wishing them success in their studies.

Source: Bahrain News Agency

His Holiness Pope Tawadros II, Pope of Alexandria and Patriarch of the See of Mark, received Fawzia bint Abdullah Zainal, Bahraini Ambassador to Egypt and Permanent Representative to the Arab League.

His Holiness praised the distinguished Bahraini-Egyptian relations which extended over decades.

He hailed His Majesty King Hamad bin Isa Al Khalifa’s role in consolidating the principles of peace, tolerance, love and peaceful coexistence between religions, stressing that Bahrain provides a unique model in upholding these values.

Ambassador Zainal affirmed the strength of the longstanding bilateral relations, highlighting the friendship between Bahrain and the Coptic Orthodox Church.

She commended the role of the church in promoting unity.

Source: Bahrain News Agency

The Intelligence Agency announced today, Tuesday, that it was able to arrest three defendants in the Holy Governorate of Karbala.

The agency said in a statement: “The Intelligence Agency detachments in the Holy Governorate of Karbala received accurate information about three defendants, one of whom is wanted in accordance with the provisions of Article Four of the Anti-Terrorism Law. As for the second, information was received about him indicating that he assumed several names and personalities with social and religious influence in order to collect money from citizens under the title of charitable work, while attacks on a government school and its staff were recorded against a third.”

It added, "An intelligence work team was formed to follow up on their whereabouts, and in a short period of time, the intelligence detachments specialized in combating terrorism within the Holy Governorate of Karbala were able to arrest the three defendants."

It continued, "The defendants had their statements recorded and they admitted to having committed these acts. They were referred to the competent authorities in preparation for their appearance before the court."

Source: National Iraqi News Agency