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BBK signs loan facility with WJ Towell Group of Oman

From left: Ankur Lalaji, Relationship Manager, Offshore Banking Department, BBK, Imad Sultan, Deputy Managing Director, W. J. Towell & Co. LLC, Shaikh Rashed AlKhalifa, Group Head- Business Group, BBK, A Karim Bucheery, Chief Executive, BBK; Hussain Jawad, Chairman, W.J.Towell & Co. LLC and Manohar Shenoy, Group Chief Financial Officer, W. J. Towell & Co. LLC

BBK, Bahrain’s pioneer in retail and commercial banking, has recently arranged and underwritten term loan and working capital facilities for the WJ Towell Group, one of the leading business groups in the Sultanate of Oman.

The agreement between the two parties for these credit facilities was recently signed at a ceremony in the month of January at W J Towell’s Head Office in Muscat.

“We are very pleased to be providing significant credit facilities to W J Towell, one of the leading Omani business groups. They are a long-established and well-diversified group who have expanded as Oman has grown,” Abdulkarim Bucheery, BBK’s Chief Executive, said.

“BBK, as one of the leading banks in the region, are keen to play a major role in helping established regional businesses to develop and grow further. This deal further demonstrates our endeavour to become a leading regional bank and is another important step in the evolution of the Bank. BBK looks forward to similar future transactions across the GCC region.”

“BBK is a highly respected regional Bank and we are delighted to have reached agreement with them to secure competitively-priced credit facilities which will enable our group to continue on our path of business growth,” Hussain Jawad, Chairman, WJ Towell & Co LLC said.

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Posted by on Feb 28 2012. Filed under Banking & Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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