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Senegal to showcase Islamic banking potential

Manama, June 27, 2010

Bahrain will host a key Islamic banking forum with Senegal on Monday that aims to assist the Senegalese government in its efforts to promote the financial services sector and attract more private investments.

SYM International Finance Corporation is organising the event in co-operation with the Senegalese government.

"An update outlining the structure, activities and products will be outlined in a key presentation," Senegalese Ambassador Mafoudhi Andong said.

Bahrain's Foreign Ministry played a pivotal role in co-ordinating the forum, with the help of the Central Bank of Bahrain and the Bahrain Chamber of Commerce and Industry.

Bahrain Association of Banks has also contributed to the event, ensuring the technical and logistics organisation.

"Senegal is playing a pivotal role in promoting financial services in West Africa," Mr Andong said.

"Most international companies and leading financial firms which operate in West Africa have their regional headquarters in Senegal," he said.

He also urged Bahrain's banks to come forward and seize the unprecedented opportunities in his country, stressing prevalent financial, economic and political stability.

"Bahraini bankers can also use Senegal as a gateway to West African and Sub-Saharan countries," he added.

SYM specialises in Islamic banking and investment services. It arranges Islamic finance transactions to international investors both from emerging markets and industrialised nations, with a special focus on Organisation of Islamic Countries (OIC).

It aims to increase trade volume among OIC member countries, develop and help finance trade in accordance with the principles of Islamic law.-TradeArabia News Service




Tags: Senegal | Islamic banking potential |

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