TAKAUD introduced long-term savings and pensions solutions to individuals and corporations for the nationals and expatriates.
Bahrain, June 12th 2013 --- TAKAUD, the MENA region's specialist provider of savings and pensions, held a gala reception to mark its recent launch in the Kingdome of Bahrain. The event was held at the Ritz Carlton Hotel, Bahrain on June 11th 2013.
Patronized by the Central Bank of Bahrain, the event was well attended by key government officials, CEOs and industry leaders, across all industries, the KIPCO Group board of directors and the media. On this occasion, H.E. Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain commented:-
"The Central Bank of Bahrain welcomes TAKAUD to the Kingdom of Bahrain as the first provider of world-class savings and pensions solutions developed specifically for the MENA region. As the financial hub of the GCC, we trust that Bahrain is the ideal platform for TAKAUD' growth and success within the Kingdom and beyond, and we wish them great success."
Samer Khanachet, Chairman of TAKAUD and Group Chief Operating Officer of KIPCO, said:-
"As a region, we simply do not save enough and according to the National Bonds GCC Savings Index, 30% of MENA citizens save nothing. This worrying trend will have dramatic and long-term negative consequences if not addressed. TAKAUD's mission therefore is to create and support a much needed 'Savings Culture' for our citizens and with our easily affordable savings solutions, we empower both nationals and expatriates to take control of their finances and plan for both their and their families' long-term futures."
Abdallah Kubursi, CEO of TAKAUD said:-
"This Gala Reception marked the introduction of TAKAUD's first individual and corporate solutions in the Kingdom of Bahrain, the Employee Savings Plan, the End of Service Benefit Plan and the Individual Savings Plan providing affordable solutions to suit all customers across all demographics," He added, "We would like to thank His Excellency Rasheed Mohammed Al Maraj and our distinguished guests for taking part in this milestone, and look forward to becoming the leading savings and pensions provider of choice in the region."
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About Takaud Savings and Pensions B.S.C. (c)
Takaud Savings and Pensions B.S.C. (c) is licensed as an Investment Business Firm (Category 1) by the Central Bank of Bahrain (CBB) and is a closed joint stock company incorporated in the Kingdom of Bahrain.
TAKAUD specializes in providing long-term savings and pensions solutions to individuals and corporations in the local and expatriate communities across the MENA region. International investment partners include BlackRock, BNP Paribas, Dexia, Robeco, Franklin Templeton, PIMCO, and Schroders to name a few.
TAKAUD is 50% owned by Kuwait Projects Company (Holding) K.S.C. (c) (KIPCO) and 50% by United Gulf Bank, a member of the KIPCO Group.
The KIPCO Group is one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 26 billion as at 31 December, 2012. The Group has significant ownership interests in over 60 companies operating across 26 countries. The group's main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.
Takaud Savings and Pensions B.S.C. (c),
UGB Tower 7th Floor | Diplomatic Area |P.O Box 65167| Manama| Kingdom of Bahrain
Office: (+973) 17511611
Email: info@takaud.com
www.takaud.com
Media Contacts:
Ebrahim K Ebrahim
Takaud Savings and Pensions
Email: ebrahim.ebrahim@takaud.com
Mobile: +97332225685
Shane Dolan
FTI Consulting
Email: shane.dolan@fticonsulting.com
Direct: +971 4 437 2109
© Press Release 2013
