Latest news with #BD75
Daily Tribune
01-06-2025
- Business
- Daily Tribune
Victory for buyers : Consumers reclaim BD290,000 over past two years through complaints system
TDT | Manama The Ministry of Industry and Commerce recovered BD290,000 for consumers over the past two years, while arranging replacements worth BD75,000, according to a written reply from Minister His Excellency Abdulla bin Adel Fakhro to MP Dr Muneer Seroor. The figures cover 2023 and 2024, during which the ministry's Consumer Protection Directorate received 7,868 complaints in the first year and 7,153 in the second. A further 1,302 complaints were registered between January and March this year. Most cases concerned faulty electrical goods and vehicle-related issues. Fakhro noted that complaints fell by roughly 9 per cent in 2024. Goods and services That year, more than BD120,000 was recovered for consumers, while goods and services worth over BD45,000 were replaced. In 2023, the recovered amount exceeded BD170,000, with replacements totalling more than BD30,000. By law, the ministry has up to 60 working days to examine a complaint. However, the directorate typically contacts both the complainant and the business within three days to assess the issue and determine the next step. Working days Resolution times vary. Most complaints are dealt with within 15 working days. Around 42 per cent are completed within one week 19 per cent within eight to fifteen days 15 per cent within sixteen to thirty days 12 per cent are resolved on the same day they are received The directorate may also refer cases to the courts when necessary. In both 2023 and 2024, 212 complaints were handed to the Public Prosecution. In 2023, six shops were shut down by administrative order. Arrangements To reduce delays, the ministry signed service level agreements with eight commercial entities that frequently attract complaints. These arrangements led to a 35 per cent reduction in average handling times for those firms. As for cases that take longer, Fakhro said the directorate follows a graduated process. Staff first attempt to broker a settlement between the parties. Failing that, the matter proceeds through formal steps: an initial letter, a notice, a final warning, and then a binding decision. If the business fails to comply, the case is referred to prosecutors.
Gulf Insider
17-05-2025
- Gulf Insider
Bahrain: School Trio Splurged Stolen BD86,000 On Luxury Lifestyle
Forging documents to siphon off BD86,000 has landed three members of a technical secondary school in deep trouble, with investigators revealing they blew the stolen funds on everything from coffee shops and fashion to insurance, beauty salons and car payments. The first defendant was sentenced to 10 years in prison and fined over BD75,000, with an order to repay the same amount. The second was handed three years and fined BD10,897, while the third received a one-year sentence and a BD790 fine. Both were also told to return the sums they had taken. The trio, all employees at the school, are now appealing their convictions. The Fifth High Criminal Court of Appeal heard the case this week. One defendant appeared from custody, while the other two arrived from outside detention. Judges postponed the hearing to 28 May 2025, giving time for a court expert to finalise a report on the missing funds. The case was triggered by a report from the Ministry of Education, which uncovered financial and administrative irregularities during internal checks. The Anti-Corruption Directorate and the Financial Intelligence National Centre later confirmed that more than 200 school-issued cheques had been involved, some of which were paid into personal accounts or cashed out. The first defendant admitted forging documents and signing cheques in his own name rather than that of suppliers. He expressed regret to the school head. The second and third admitted helping him secure and process ted helping him secure and process the cheques. An investigator said school payments were handled by the first and third defendants. A financial analyst told the court that records showed a pattern of personal spending-including clinic bills, fuel, café receipts, cinema tickets and men's clothing. Some vendors said their names had been used on fake invoices, while others confirmed the transactions shown on the paperwork did not match any real business. The public prosecution had pressed for the harshest penalties, saying the acts were a clear betrayal of public trust and taxpayer money.
Daily Tribune
17-05-2025
- Daily Tribune
School trio splurged stolen BD86,000 on luxury lifestyle
Forging documents to siphon off BD86,000 has landed three members of a technical secondary school in deep trouble, with investigators revealing they blew the stolen funds on everything from coffee shops and fashion to insurance, beauty salons and car payments. The first defendant was sentenced to 10 years in prison and fined over BD75,000, with an order to repay the same amount. The second was handed three years and fined BD10,897, while the third received a one-year sentence and a BD790 fine. Both were also told to return the sums they had taken. The trio, all employees at the school, are now appealing their convictions. The Fifth High Criminal Court of Appeal heard the case this week. One defendant appeared from custody, while the other two arrived from outside detention. Judges postponed the hearing to 28 May 2025, giving time for a court expert to finalise a report on the missing funds. The case was triggered by a report from the Ministry of Education, which uncovered financial and administrative irregularities during internal checks. The Anti-Corruption Directorate and the Financial Intelligence National Centre later confirmed that more than 200 school-issued cheques had been involved, some of which were paid into personal accounts or cashed out. The first defendant admitted forging documents and signing cheques in his own name rather than that of suppliers. He expressed regret to the school head. The second and third admitted helping him secure and process the cheques. An investigator said school payments were handled by the first and third defendants. A financial analyst told the court that records showed a pattern of personal spending—including clinic bills, fuel, café receipts, cinema tickets and men's clothing. Some vendors said their names had been used on fake invoices, while others confirmed the transactions shown on the paperwork did not match any real business. The public prosecution had pressed for the harshest penalties, saying the acts were a clear betrayal of public trust and taxpayer money.
Zawya
09-04-2025
- Business
- Zawya
Solidarity Bahrain gets CBB approval to buy BNI and BNL
Bahrain - Solidarity Bahrain has announced that the Central Bank of Bahrain (CBB) has granted its final approval for the acquisition of Bahrain National Insurance Company and Bahrain National Life Company for a total purchase price of BD75 million in cash. The approval for BNL relates to the company's direct acquisition of 100 per cent of its share capital, while the approval for BNI relates to the acquisition of 100pc of its share capital by the company's majority shareholder, Solidarity Group Holding, in line with the transaction structure previously disclosed. As previously disclosed, upon completion of the company's ongoing capital increase exercise, Solidarity Bahrain will proceed to acquire BNI from Solidarity Group in accordance with the share purchase agreement executed between both parties on March 18, 2025. The completion of the transaction is expected to have a positive impact on Solidarity Bahrain's consolidated financial position by enhancing scale, operational efficiencies, and market leadership across both general and life insurance sectors, thereby supporting long-term growth and profitability. This transaction is a key step in Solidarity Bahrain's strategic journey to position itself as a driving force in the marketplace. By bringing BNI and BNL into Solidarity, the company will leverage their specialised expertise and established market presence to complement its existing strength. Once completed, this acquisition is expected to nearly double the current scale in Bahrain, with a combined annual gross written premium projected to exceed BD100m. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
