Manama: The National Bank of Bahrain (NBB) has signed a framework agreement with Banco BPM S.p.A., one of Italy's prominent joint stock banking institutions, during the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of the Kingdom of Bahrain, to Italy.
According to Bahrain News Agency, the agreement establishes a strategic partnership designed to support Italian companies aiming to establish or expand their presence in the Kingdom of Bahrain, Saudi Arabia, and the United Arab Emirates. It also allows Bahraini companies to explore business and investment opportunities in Italy.
Hala Ali Husain Yateem, Chairperson of NBB, represented the bank at the signing ceremony, which included representatives from Banco BPM and dignitaries from both nations. Yateem stated that the agreement is a significant advancement in financial collaboration between Bahrain and Italy, leveraging NBB's strong presence in Bahrain and the Gulf region alongside Banco BPM's reach in Italy.
The agreement highlights the roles of NBB and Banco BPM as strategic banking partners for clients expanding in Bahrain and Italy, aiming to facilitate cross-border transactions and support the growth of bilateral trade and investment between the two countries.