This came during a meeting with Vice Chairman of the Board of Directors of Kuwait Finance House (KFH) –Bahrain, Khalid Najibi, and the Group’s Chief Executive Officer, Dr. Shadi Al Zahran. The meeting discussed ways to strengthen cooperation between the Chamber and the bank, the challenges facing SMEs, and opportunities to develop joint initiatives that support their financial and operational stability.
Kanoo said the Chamber is committed to maintaining direct engagement with banking leaders and conveying the business community’s views on challenges affecting various sectors. He noted that the current period calls for closer partnership between the Chamber and the banking sector, and for exploring suitable solutions that take into account businesses’ circumstances and ability to meet their obligations, while balancing business sustainability with financial stability.
Potential areas of cooperation include developing financing facilities and exploring options that give SMEs greater flexibility in managing their obligations and cash flows. The parties may also consider ways to expand SMEs’ access to banking and advisory services, in line with applicable regulations and controls.
Najeebi, Vice Chairman of the Board of Directors of Kuwait Finance House–Bahrain, underscored the importance of strengthening the partnership with the Bahrain Chamber. He said this would support the private sector and help create a more flexible financial and banking environment that responds to SMEs’ needs. He also highlighted the importance of coordinated efforts to develop initiatives and financing solutions that help business owners overcome challenges, strengthen their institutions’ stability and sustain their commercial activities, in service of the national economy.
At the end of the meeting, both sides stressed the importance of continuing coordination and exchanging views on initiatives that serve the business community and support the sustainability of SMEs. They noted that such efforts would enhance the private sector’s competitiveness and contribute to Bahrain’s economic development.
