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Posted On: 11 May 2008 05:16 pm
Updated On: 12 November 2020 02:08 pm

Qatar and Bahrain to set up joint bank

Khalifa Al Haroon
Khalifa Al Haroon
Your friendly neighborhood Qatari
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Doha • As part of a string of key joint venture projects between Qatar and Bahrain, the chambers of commerce in the two countries will set up a joint bank shortly, said Dr Essam Fakhroo, Chairman of Bahrain Chamber of Commerce and Industry (BCCI). Fakhroo, who was commenting on the achievements made by the Joint Higher Qatari-Bahraini Cooperation Committee, urged the private sector in both the countries to study available investment opportunities and partnerships in Qatar and Bahrain. He added that both the BCCI and Qatar Chamber of Commerce and Industry (QCCI) have agreed on several projects including the bank and they have already set up a joint Takaful Insurance company. Last year, the two chambers agreed in a meeting held here to set up several joint ventures including a bank, investment, insurance, transport and real estate development companies, an aluminium smelter plant and a glass factory, among others. Talking to the Bahraini press, Fakhroo said that the Bahrain-Qatar causeway project will open new horizons for future investments in fields like oil and gas, industry and trade, as well as tourism and human resources development. The causeway could be seen as an effort to strengthen Gulf Cooperation Council initiatives for the common market, he said. The plan to set up an express railway between Qatar and Bahrain, if approved, will give an additional momentum to the mutual ties which are already very good, Fakhroo said. The Peninsula