BD1.725 million revenue from private number plates auction
Manama : Mazad’s number plate auction has generated BD1.725 million in revenue for the Ministry of Finance.
The auction included forty combinations of a new series of numbers introduced specifically for the auction. The new series of numbers started from 600000 and 600001 became the first number plate auctioned in the Kingdom.
In a statement, Mazad’s CEO, Talal AlAraifi, said that the success of the auction paves the way for more auctions in the Kingdom, which will directly support ongoing efforts to introduce new and innovative ways to generate revenue.
Alaraifi added that the success of the first auction was underpinned by effective collaboration between the relevant parties, noting that the auction is an important step in promoting and encouraging principles of transparency, fairness and competitiveness across key sectors in the Kingdom.
A number of participants praised the auction, highlighting that it will directly support Bahrain’s ongoing economic diversification efforts. The participants went on to recognise the high standards achieved by the organisers in conducting the auction, while stressing the importance of continuing to encourage and introduce different types of auctions in Bahrain.
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