Mohammed bin Rashid Al Maktoum Foundation and Bahrain Development Bank Announce a Three Year Plan to Promote Entrepreneurship 

Dubai/Manama: 11 July, 2009 – The Mohammed bin Rashid Al Maktoum Foundation today announced a high-level delegation met with officials of the Bahrain Development Bank to announce ways for promoting business initiatives and entrepreneurial activities among the youth in the Arab World. 

The meeting came as part of the delegation’s two-day visit to Bahrain to formulate a working plan for the implementation of the Memorandum of Understanding (MoU) signed in July 2008. 

Led by Adel Al Shared, Vice-Chairman and Managing Director of the Foundation, the delegation members included Sultan Lootah, Vice President - Entrepreneurship and Employment sector, and Jamal Al Shehhi, Director - Culture Development, Culture Sector. Awadh Seghayer Al Ketbi, CEO, Mohammed bin Rashid Centre for Leadership Development, also accompanied the delegation. 

The Mohammed bin Rashid Al Maktoum Foundation will cooperate with the Bahrain Development Bank to provide diverse mechanisms including e-programmes and ensure the success of incubation projects. Both organizations will also collaborate to support research and hold workshops on raising awareness on entrepreneurship among the youth in the Arab world. 

Adel Al Shared said: “We value the alliances we have successfully established with our partners, regionally and internationally. The visit to Bahrain demonstrates our commitment to provide the Arab youth with key tools to access knowledge resources and develop their skills.” 

The agreement between the Bahrain Development Bank and the Foundation complements the organisations’ respective strategies towards enhancing opportunities for the youth and motivating them to participate in strengthening economic capabilities through launching new businesses in the Arab World. 

The Mohammed bin Rashid Al Matkoum Foundation’s discussions with Bahrain Development Bank are designed to not only create opportunities for the youth, but help the wider community in general. The discussions are also part of the Foundation’s overall strategy to enter into alliances with regional and international organizations for promoting young entrepreneurs and enhancing their contribution to the overall progress of the region.