Bahrain: ila Bank launches investment solution for government securities

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Bahrain-based ila Bank, powered by Bank ABC, now offers its customers the opportunity to invest in government securities issued by the Central Bank of Bahrain (CBB) on behalf of the Government of the Kingdom of Bahrain.

This new investment service makes ila the first bank in Bahrain to be directly connected with the CBB, giving its customers a one-stop investment solution at a click of a button, the bank said.

Customers enjoy a comprehensive view of all upcoming securities, allowing them to place bids and purchase available securities directly through the ila app. The securities available for investment include Government Treasury Bills, Development Bonds, and Islamic Securities (Sukuk).

With its fully digital platform and direct link to the CBB, ila provides a highly simplified customer experience, enabling instant investment in securities and easy monitoring, without complicated paperwork or physical visits. The bank further helps its customers maximize their returns by not charging any custody fee on holding their investments. The service also provides real-time updates on securities, deadlines, returns and maturity dates, via in-app notifications.

Nada Tarada, ila Bank's Head of Business and Customer, commented: "At ila, we are committed to meeting the financial needs of our customers in a holistic manner. Helping them save and invest is a crucial part of enabling their financial independence. We are proud to offer this investment channel to our customers in Bahrain, empowering them to invest in a range of instruments with just a click. Investing in government securities has never been as convenient and easy as it is now with ila Bank."

Customers interested in investing in Government Securities can easily do so by selecting their preferred type of security on the ila app and submitting the purchase order directly through the app. The minimum investment amount is BD10,000.