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.
“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,” Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, 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,” Samer Khanachet, Chairman of TAKAUD and Group Chief Operating Officer of KIPCO, said.
“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.”
“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,” Abdallah Kubursi, CEO of TAKAUD said.
“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.”
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.