Manama, Bahrain 10 August, 2011: Bahraini retail and commercial banking institution, BMI Bank today announced that it had signed an agreement with Sinnad, to manage the Bank's ATM network as well as issue its chip-enabled debit cards. Sinnad will also be responsible to implement a comprehensive system to monitor and manage the risk associated with electronic transactions.The signing ceremony was held at the Banks corporate head office at the Bahrain World Trade Center and attended by Jamal Al-Hazeem Chief Executive Officer (CEO) of BMI Bank and Ebrahim Janahi General Manager of Sinnad.

Speaking at the ceremony, Jamal Al-Hazeem, said:

"I am pleased to sign our second agreement with Sinnad in the past few months, which demonstrates our commitment to continue to provide our Bank's debit card customers with cutting-edge secure and convenient payment solutions. With Sinnad's proven track record, I am confident our customers will experience the difference in our revamped service levels leading to an overall enhanced banking experience .

Ebrahim Janahi, General Manager of Sinnad said: 

"We are pleased to sign this agreement with BMI Bank. The management of the ATM network and issuing the chip-enableddebit cards will offer the Bank's customers a secure environment on all their electronic transactions which is accepted within the GCC and international networks enabling the Bank's customers to conduct their transactions from any place in the world. 

Sinnad is seeking to provide the best solutions for all services related to cards, ATMs and risk management for banking transactions for all banks in Bahrain and the Gulf states at the latest international standards and specifications."

BMI Bank had earlier signed an agreement with Sinnad in May 2011 authorizing them to issue and managethe Bank's chip-enabled Diners Club credit cards in addition to building up a system for monitoring risks related to electronic transactions.

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About Sinnad:
The name Sinnad implies an organization synonymous with quality, trust, ethics, and high standards of performance in the card and payment outsourcing sector. It represents the establishment of a new organization that will deploy partners shared ambition for sustainable growth and is founded on complementary core competencies. The Company provides developed third party banking services to support banks in Bahrain, the Gulf region and other areas that will reduce costs, risk levels and enhance the ability to provide local and international authorizations. The Company has a significant strong local presence for the effective management and meeting customers' requirements in the local market in Bahrain with the possible outlook to the Saudi and Qatari markets to provide the best services related to technology and customer services.

The Company provides new and advanced technologies that have been developed for supporting ATM networks and credit card services to accelerate growth in the regional credit card market through meeting the ambitions of banks and enable them provide effective and secure banking transactions in all areas related to payments and card solution related services.

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 8 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 Bank Muscat.

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