Al Salam Bank Bahrain (ASBB) announced that it had recently signed a Memorandum with the Labor Market Regulatory Authority (LMRA). The agreement authorizes the bank to collect fees on behalf of the LMRA at its Seef district and City Centre Mall branches, as well as at all branches of Bahraini Saudi Bank (BSB), a subsidiary of ASBB.
The memorandum was signed at the LMRA's premises by Mr. Ali Radhi, Chief Executive Officer of LMRA and Mr. Yousif Taqi, Director and Chief Executive Officer of ASBB. Also present at the ceremony were a number of senior officials from the LMRA, BSB and ASBB.
Mr. Yousif Taqi, Director and Chief Executive Officer, ASBB commented, “By partnering with the LMRA we hope to positively contribute to the exemplary work the Authority has conducted in regulating the labor market in the Kingdom of Bahrain, related to residency affairs and issuing work permits for foreign residents.”
This Memorandum is in alignment with ASBB’s strategy to diversify its services to various commercial, economic and government sectors in the Kingdom. “We are honored to have been chosen to leverage our superior banking capabilities, technological expertise as well as our network to ensure security and efficiency in the process,” added Mr. Taqi.
In the light of this agreement, ASBB through its branches, which also include the six BSB branches, in addition to its head office and City Center Mall branch, will provide an integrated service to facilitate paying fees, utility bills, work permit issue and renewal fees as well as visa entries or profession changing fees.
LMRA specialists have spent the past few weeks training ASBB's staff on the various functions of LMRA's special system. The Authority has dedicated a support team to be on standby to address any technical issues during transactions.
Speaking on the occasion, Mr. Radhi said, “LMRA is constantly striving to improve its services and ease procedures for the convenience of clients. The memorandum with Al Salam Bank Bahrain will increase the number of collection points through the bank’s various branches, further streamlining and simplifying the fee collection process.”
“We take this opportunity to thank LMRA for this collaboration and encourage the public to utilize this facility to best suit their convenience,” concluded Mr. Taqi.
