Global Banking Corporation signs as a lead sponsor of 'Bahrain 1' racing team

The agreement is between Bahrain One Racing team, owned by His Highness Shaikh Abdulla bin Hamad Al Khalifa and Mr. A.Rahman Al Jasmi, Vice Chairman and Managing Director at GBCORP.

Bahrain 1 is considered to be one of the Kingdom's most promising and premier racing teams, stealing the spotlight during the fourth round of the Bahrain Drag Racing Championship held last year. The team is looking put in a winning effort during a series of championships across the GCC this year, the fourth round being the Bahrain National Championship to be held on March the 26 and 27. During the Qatar round, Bahrain 1 team got the Middle East record and the second fastest time in the Pro Extreme category with Mile ET of 5.825 and speed of 246.82 MPH.

GBCORP's sponsorship of the Bahrain 1 team is a key aspect of its corporate social responsibility programme and a complementary initiative to GBCORP's commitment to the Bahrain Society for Children with Behavioral and Communication Difficulties. As part of this initiative the Bahrain 1 team is committed to donate part of the profit from the upcoming event towards supporting the Society's activities.

"For GBCORP, Corporate Social Responsibility is a key aspect of the Bank's way forward strategy and is evident in the way we operate. Our business and social commitments are mutually reinforcing and neither will be sustainable without the other. We have a continuing social responsibility towards the society in which we operate more so towards the less fortunate. We equate our CSR initiatives with community investment furthering the concept both internally and externally. It's about empowering people,"

said A.Rahman Al Jasmi, Vice Chairman and Managing Director at GBCORP.

"Drag racing has gained huge popularity in the Kingdom and regionally. Bahrain One is a team truly worthy of the aspirations of the Kingdom's race enthusiasts. As an evolving bank GBCORP shares a common synergy with the team which has ably demonstrated its ability to defy challenges and emerge as winners. We also share a similar commitment towards CSR initiatives that are sustainable and have long term benefits," said Mr. Ahmed Al Khan, Head of Investment Banking at GBCORP.

GBCORP has been an avid supporter of Alia for Early Intervention and the Bahrain Society for Children with Behavioral and Communication Difficulties and its initiatives with autistic children. The Society promotes lifelong access and opportunity for individuals with behavioral and communication difficulties, and their families. GBCORP is also sponsoring the global conference on Autism titled 'Untangle Autism' to be held in Bahrain from April 2-4, 2009.

Following their participation at the March 27 drag racing event in Bahrain, Bahrain One Racing team will also compete at the drag race Qatar National Championship as well as other GCC championships in the region.