Bahrain’s Economic Development Board (EDB) has reported continuing success in positioning Bahrain as a vibrant high-value, low-cost gateway to the GCC.

The EDB said it sponsored and took part in the Fund Forum Asia held last week in Hong Kong, said a report in the Gulf Daily News (GDN), our sister pulication.

Billed as Asia's largest gathering for the asset and wealth management community, the event explored the challenges facing the investment and wealth management community globally and in Asia.

The second day of the forum opened with a keynote address by EDB chief economist Dr Jarmo Kotilaine, introducing Asian investors to opportunities in Bahrain and the GCC.

"The six countries of the GCC are experiencing fast growth and are exploring means of diversifying their economies away from oil," Dr Kotilaine said.

"This, along with the rapidly expanding young affluent populations with investible assets on the lookout for sophisticated financial products and services, offer numerous opportunities for international investors."

He said Bahrain is the ideal access point for international investors and wealth managers looking to expand into the GCC region.

"In Bahrain investors will find a long-established financial centre with more than 40 years of experience and one of the largest concentrations of finance institutions in the region.

"The kingdom's mature regulatory framework, low cost of doing business, and highly skilled national workforce make it a compelling business location for the asset and wealth management industry."

The kingdom has more than 400 registered financial institutions and is also considered a global leader in the Islamic finance industry, hosting the highest concentration of Islamic finance institutions found anywhere in the world.

Last year, Bahrain was named the GCC's most developed Islamic finance market and second out of 92 countries worldwide by the ICD-Thomson Reuters Islamic Finance Development Indicator. - TradeArabia News Service