“KHALEEJI” Signs an MoU with the “SIO”

Stemming from its solid commitment to expanding its strategic partnerships with various private and government entities, with the aim of providing a variety of innovative banking products & services that meet the aspirations of its clients, Khaleeji Bank (KHALEEJI), one of the leading Islamic Banks in the Kingdom of Bahrain, has recently signed a Memorandum of Understanding (MoU) with the Social Insurance Organisation (SIO).

 

The Memorandum seeks to strengthen the partnership between the two parties to facilitate the provision of pension exchange services to citizens under the Organisation’s umbrella, in compliance with the provisions & principles of Islamic Shari’a.

 

The signing ceremony took place at the SIO’s headquarters in the Diplomatic Area of Manama, where Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of KHALEEJI, signed the agreement on behalf of the bank while Ms. Eman Mustafa Al Murbati, Chief Executive Officer of the SIO, signed the agreement on behalf of the organization in the presence of several officials from both sides.

 

It is noteworthy that the signed MoU aims to enable the Bank to finance the provision of pension exchange services provided by SIO to its clients, in line with the provisions & principles of Islamic Shari’a. The agreement will take effect at the beginning of next October, to contribute to the provision of distinguished financial solutions to SIO clients.

 

On this occasion, Mr. Algosaibi stated: “We are delighted at KHALEEJI to sign this memorandum with the SIO, in line with our visions and aspirations aimed at expanding our partnerships with society’s leading institutions, especially ones that are as important as the SIO which is considered one of the key public bodies in the Kingdom of Bahrain.”

 

He further added: “This collaboration will allow the provision of distinctive services to clients of the social insurance system to seamlessly access the pension replacement service.”

 

Khaleeji is a leading Islamic bank that strives to achieve clients’ aspirations through an Islamic banking model that offers a comprehensive range of high-quality Shari’a-complaint banking services and investment opportunities to individuals and companies.