Deloitte Finance to launch Bahrain operations
Manama, March 7, 2011
Deloitte Corporate Finance Limited (DCF), a DFSA licensed investment business firm in the UAE, has received a licence from Central Bank of Bahrain (CBB) to open its branch in the Kingdom.
An affiliate of the UK and Middle East member firms of Deloitte Touche Tohmatsu Limited, DCF said it aims to provide the full range of financial advisory services currently provided by DCF (Dubai) including Islamic financial advisory services.
Ahmed Al-Bassam, director of Licensing & Policy, CBB said, “We welcome Deloitte’s decision to set up a regional branch of DCF in Bahrain.”
'This branch is licensed to provide corporate finance solutions to clients based in Bahrain as well as in the region. In addition the provision of Islamic financial advisory services will contribute significantly to the development of Islamic finance industry,” he noted.
With a globally connected network of member firms in more than 150 countries, Deloitte is one of the ‘Big 4’ professional services firms providing audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries.
“Bahrain was selected for the location of the new branch in recognition of Bahrain’s status as a regional financial hub,” said Roger Nasr, managing partner, Deloitte Bahrain.
“The establishment of a branch of Deloitte Corporate Finance Limited in Bahrain represents yet another significant milestone in its strategic investment in the Middle East region,” said Dawood Ahmedji, general manager, DCF in Bahrain.
“DCF in Bahrain is an integral part of our strategy to have a dedicated team of specialists providing financial advisory services to clients throughout the region. We look forward to sharing our corporate finance expertise with clients based in Bahrain and those looking to invest in Kingdom,” Ahmedji noted.
In addition to the main Deloitte office and the new DCF branch, Deloitte also selected Bahrain for the location of its regional Islamic Finance Group, which was launched in 2010.-TradeArabia News Service