Takaud, the Mena region’s specialist provider of savings and pensions, held a gala reception yesterday (June 11) to mark its recent launch in Bahrain.

Patronised by the Central Bank of Bahrain, the event at the Ritz Carlton Hotel was attended by key industry officials, the Kipco Group board of directors and the media.

Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, said: “The Central Bank of Bahrain welcomes Takaud to 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 per cent 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 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.” – TradeArabia News Service