Bahrain Summer Festival a major boost for tourism

Suad Hamada (Bahrain Roundup) / 6 August 2014

The rate of occupancy at four-star hotels also jumped 97,1 per cent over the same period, the ministry of culture announced this week. The influx of citizens and expatriates played a key role in revitalising the internal tourism sector in Bahrain.

Visitors and GCC nationals also flocked to Bahrain, attracted by the fun-filled Eid activities and exceptional summer shows which turned the Kingdom into a prized tourism destination.  The ministry of culture had signed a cooperation agreement with dozens of five and four-star hotels to launch special promotions which boosted the rate of room occupancy and turned Bahrain into a hub for family-oriented tourism.

The ministry had also lined up a rich cultural and artistic programmes. Famed Moroccan singer Saad Lamjarred staged two musical shows at the cultural auditorium on the second and third of Eid holidays. The sixth edition of the annual Bahrain Summer Festival was also launched on July 31 under the theme “Summer of Colours”.

Three new shopping malls planned

Housing Real Estate Company has announced that work is expected to be completed during the current year for three new shopping malls in Salmabad, Budaiya and Samaheej areas.

The company added that designs of seven more similar malls have been completed that will be established in Al Lawzi, Malikiah, Riffa, Northeast parts of Muharraq, Samaheej, Hamad Town and Zalaq areas .

The acting general manager, Eng. Iyad Obeid, said that the malls are constructed on lands owned by the Housing Bank in residential areas.

He added that international environment standards will be taken into account in the construction process, as well as the use of environmental friendly and heat-insulating building materials. In addition to the provision of water and energy for the same areas.

BIBF, University of Bolton, UK sign key deal

The Bahrain Institute of Banking Finance (BIBF) has signed a memorandum of Understanding (MoU) with the University of Bolton (UK) to develop an MBA course for Islamic Banking. As per the MoU, which was signed in the UK, BIBF will act as lead content provider for the Islamic Finance subjects and will supervise all dissertations, while the University of Bolton faculty will deliver the core MBA subjects.

Graduates of BIBF’s Islamic Finance programmes will be eligible for exemptions from some of the subjects, providing them with a shortened pathway to obtain an MBA with a specialisation in Islamic Finance.

“The initiative further bolsters our position as the global content provider of choice for Islamic Finance. We expect the new programme to become an attractive means for students globally to develop expertise in Islamic Finance, and for our graduates to further their studies in the UK.”, BIBF Director Solveig Nicklos said at the signing ceremony.

According to a recent BIBF research paper, the Islamic financial sector, which in 2012 had an overall asset valuation of more than 1,350 billion dollars globally, is expected to create anywhere from 250,000 to 1 million professional Islamic finance jobs worldwide by 2020.

The University of Bolton is a leading academic institution renowned for its vocationally-focused and industry-relevant degree programmes with an exceptional track record.

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