Bahrain 'top financial hub in Middle East'
London, September 28, 2010
More than 400 banks and financial institutions are operating in Bahrain, making it the largest financial hub in the Middle East, said an expert.
"Bahrainis represent up to 70 per cent of the employees working in the financial sector," Economic Development Board (EDB) chief executive Shaikh Mohammed bin Essa Al Khalifa said as he met officials at the Lloyds company, the world's largest in the insurance and re-insurance market.
Shaikh Mohammed headed a high-level economic delegation on a short visit to London to promote Bahrain's promising investment opportunities, said a report in our sister publication, the Gulf Daily News.
The delegation is also planning a three-day investment road show in France to project Bahrain's untapped opportunities and dynamic economy.
The meeting and roadshow are part of an aggressive EDB strategy over the coming months to woo direct foreign investments and create value-added jobs for Bahrainis, in line with Economic Vision 2030.
Shaikh Mohammed credited the strict regulatory monetary policies adopted by the Central bank of Bahrain (CBB) for withstanding challenges and ensuring the steady growth of the financial sector.
"We remain confident about our capacity to provide world leading companies with all facilities and world standard services to ensure their access to the $1 trillion GCC expanding market," he said.
CBB insurance control director Nader Mandeel gave a presentation on advantages of Bahrain's robust financial sector.
The delegation included EDB chief operating officer Kamal Ahmed, executive director Steve Harrisson and financial services director Winton Boyd. – TradeArabia News Service