MANAMA: Standard Chartered Bank (SCB) has become the official banking partner of the Bahrain India Society (BIS) for this year, it was announced yesterday.

SCB Bahrain chief executive Hassan Jarrar and BIS chairman Mohammed Dadabhai signed an agreement in a ceremony at the society’s main offices.

A key aim of the partnership is to strengthen ties between the bank and the local business community, particularly the small and medium enterprises (SME) sector.

“With a strong footprint in both Bahrain and India, we are well placed to support and facilitate trade and investment flows,” Mr Jarrar said.

The bank would not only assist large companies and government agencies trade with each other and invest, but also help SMEs to navigate the complexities of cross-border trade and expansion into new markets, the chief executive said.

As part of the partnership, SCB will also conduct training sessions and round-table discussions on market and sector trends.

“The Indian community is an important pillar of the Bahraini economy – given that India is one of the kingdom’s main import partners,” Mr Dadabhai said.

He was confident that the partnership would help the BIS in supporting members to strengthen business as well as cultural ties in both
countries.

The society, a non-profit organisation, has more than 200 members and conducts monthly meetings to promote co-operation, trade and economic initiatives to benefit both Bahrain and India.