Manama, Bahrain, February 23rd, 2011: Bahraini retail and commercial banking institution, BMI Bank, today announced that it had signed an agreement with Kanoo Consulting Services, a division of Yusuf bin Ahmed Kanoo, whereby BMI Bank will act as the exclusive financial advisor to support the company's growing business development initiatives.

The signing ceremony was held at Yusuf bin Ahmed Kanoo headquarters in Manama and attended by Jamal Al Hazeem Chief Executive Officer (CEO) of BMI Bank, Khalid Kanoo Group Managing Director of Yusuf bin Ahmed Kanoo (Holdings) W.L.L.,  Fawzi Kanoo Deputy Chairman Yusuf bin Ahmed Kanoo W.L.L., Bahrain as well as other officials from both organizations.

Commenting on this alliance, Jamal Al-Hazeem said:
"I am pleased to sign this agreement which marks the beginning of a new partnership with one of the oldest and widely respected business groups in the country. Kanoo Consulting Services is engaged in a wide range of management consultancy and business development activities within the commercial and industrial service sectors as well as within the Small and Medium Enterprises sectors. As the exclusive advisor, we will be able to participate in shaping the company's growth and future through our experienced investment banking team who specialize in financial advisory services to the ever growing family business segment as well as corporate houses within Bahrain."

Khalid Kanoo expressed his optimism by saying:
"BMI Bank is a strong local bank with an experienced team of professionals at the helm and I am delighted to finally work together with the bank. Our business has grown from strength to strength over the years and during this time we have managed to hone our experience through managing various prestigious and renowned projects both in Bahrain and within the GCC. Kanoo Consulting Services is currently working on various business development initiatives one of which is a project with a group of leading GCC investors to establish an industrial projects investment and management company to advise, develop, promote and manage the private sector industrial projects within the GCC and with the signing on of BMI Bank as our financial advisor, we are confident of its success.

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About BMI Bank B.S.C. (c)
Bahraini retail and commercial banking institution, BMI Bank is a retail bank, registered in Bahrain and regulated by the Central Bank of Bahrain offering a full range of retail and commercial banking services. BMI Bank operates in Bahrain through a network of 9 branches and 29 ATMs with net banking for easy access to services. The online platforms offered by BMI bank were awarded the prestigious Bahrain e-Content Award 2009 in the e-Banking category, recognizing ease of use of its comprehensive e-banking services in a safe and secure environment in which to conduct personal and business transactions.

BMI Bank also operates an Offshore Bank in the Seychelles, a branch in Qatar and has a 21.33% shareholding in Gulf African Bank in Kenya. BMI Bank owns the Diners Club Services Bahrain W.L.L and operates the Diners Club cards franchise in Bahrain. BMI Bank's shareholders include some of the strongest and most respected financial institutions across the GCC, including BankMuscat. BMI Bank is rated as Investment Grade.

BMI Bank currently offers its customers a range of retail products and services including savings and current accounts, Ayadi savings account, Sapphire, its Premier Banking service, credit cards including Diners Club and La Carte, a co-branded credit card in partnership with Geant Hypermarket Bahrain, consumer and vehicle loans, mortgages and fixed deposits. In addition to Retail Banking, BMI Bank offers full SME Banking, Premier Banking, Private Banking, Corporate Banking, Islamic Financial Services, and Treasury services

For further information, please contact:
Gordon Andrade
Head, Corporate Communications
BMI Bank - Bahrain
e-mail: gordon.andrade@bmibank.com
Cell: +973 39782225

© Press Release 2011