BBK, Bahrain’s pioneer in retail and commercial banking, announces a new partnership with Bahrain Real Estate Investment Co. (Edamah) for the supply of Cash Management Services which, when fully implemented, will allow BBK customers and non-customers alike to settle their rental payments to Edamah over-the-counter at any of BBK’s Financial Malls and branches in Bahrain.
As BBK has an extensive network of service locations all over Bahrain the new service will benefit Edamah’s customers by providing a quick and convenient method for them to settle their rental payments. It will also benefit Edamah as the new service will enhance their ability to collect and manage their receivables efficiently. This new service was made possible by close collaboration between BBK’s Cash Management subject matter experts and Edamah’s Finance and Technical teams.
Speaking at an event to launch the new service on the 25th of September at Edamah’s offices in Addax Tower, Seef District, Bahrain, Rashad Akbari, AGM of BBK’s Transactional Banking Division said: “BBK is the leading provider of cash management solutions in Bahrain. Our aim is to offer our clients flexible and customised solutions for all of their payment and collections requirements. We are delighted to have had the opportunity to work with the excellent team at Edamah and to offer them a tailored collections and receivables management solution. The partnership between Edamah and BBK will provide added convenience for Edamah’s customers and will enable the company to have better control of its working capital position.”
Edamah CEO Mr. Brian Newman said that the new service will further enhance the quality of Edamah’s property management service being offered to its tenants. “Following the successful trial of BBK’s Cash Management Solutions system with a selected tenant group, we are looking forward to broadening its application across our portfolio of managed properties to improve the convenience of rent payments for our large family of lessees” Mr. Newman said.
The launch event was attended by Edamah CEO Mr. Brian Newman, Edamah COO Saeed Al-Marzooq, Edamah Director of Finance Mrs. Nada Al Kooheji, BBK’s Head of Cash Management Mr. Santhosh Lobo, and BBK’s Cash Management Product Specialist Mrs. Nouf Al Hassan.