'Baytik Industrial Oasis "Best Islamic Investment Product" at the ‘Banker Middle East Awards 2011’

05.04.2011

Manama, Bahrain: Kuwait Finance House – Bahrain (KFH-Bahrain) has received the Best Islamic Investment Product Award for its pioneering project Baytik Industrial Oasis (BIO) at the Banker Middle East Awards 2011 organised by CPI Financial. The prestigious accolade was presented during a gala ceremony held at the Emirates Towers Hotel in Dubai on 23rd March 2011. The CPI Awards are recognised around the world as one of the most distinguished Awards Programmes within the financial industry.

Mr. Abdulhakeem Alkhayyat Managing Director and CEO of KFH-Bahrain, commented “This coveted Award from CPI is a recognition for diversifying our investment portfolio and the implementation of strong risk mitigation measures to safeguard our investments against economic challenges.”

Mr. AlKhayyat added "We thank the voters for their support and acknowledgement; this is a great recognition towards our contribution to the economic sustainability of the Kingdom of Bahrain."

“Baytik Industrial Oasis (BIO), a state-of-the-art industrial park situated at Bahrain International Investment Park (BIIP) in Salman Industrial City, Kingdom of Bahrain, BIO is a wholly-owned subsidiary of Kuwait Finance House – Bahrain, BIO-based companies, will benefit from: pre-built advanced manufacturing units built to a world-class standard; zero % corporate tax; 100% foreign ownership; superior infrastructure; duty free access to all GCC markets; excellent connectivity through road, air and sea; an FTA with the US; and access to a talented and well trained workforce pool " added Mr. AlKhayyat

Mr. Osama Alkhajah, Chairman of Baytik Industrial Oasis said "This latest award reflects our strategic expertise and innovative business approach. We are very grateful to CPI Financial and industry players for recognising our sustained commitment to excellence".

Mr. Alkhajah added “Phase one of the scheme comprises six pre-built manufacturing units for lease, each consisting of four modules of equal sizes,  Providing flexibility in options, a company can invest in single or multiple units covering up to 9,600 square metres. BIO also offers a dedicated logistics area, built to serve all the logistic requirements within the BIIP.”

The Banker Middle East Awards have been designed to encourage, inspire and reward excellence within the global Islamic Business community and they have indeed become the yardstick by which institutions and practitioners across the globe measure themselves. These Awards have assumed such significance due to the Banker Middle East’s magazine's widely recognised position as the most respected voice of the industry with a circulation that reaches every corner of this rapidly growing market.

Winners are voted for by the readers of the Banker Middle East Magazine from a list of nominations by a panel of rating and consulting firms, based on their performance over the last twelve months. The Banker Middle East Awards were launched in 2005 in response to the phenomenal growth of the Islamic finance industry.