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BAMA to promote Bahrain as hub for special purpose vehicles

MANAMA, March 21, 2016

The Bahrain Asset Managers Association (BAMA) is set to host a high-level panel discussion on March 29 on 'Special Purpose Vehicles (SPV) and Corporate Entities Component in Investment Banking and Asset Management.'
 
The event will be held in co-operation with the Central Bank of Bahrain (CBB) and the Bahrain Economic Development Board (EDB) in order to examine the opportunity and significance of promoting and positioning Bahrain as a regional and international hub for the SPV business.
 
The discussion will be attended by Zayed Bin Rashid Al Zayani, Minister of Industry and Commerce; Khalid Al Rumaihi, chief executive of the Bahrain Economic Development Board; Abdulrahman Al Baker, executive director of Financial Institutions Supervision at the Central Bank of Bahrain; and Dr Ahmed Al Jawhary, chairman of BAMA.
 
They will discuss the economic benefits and spillovers of SPV related activities, who should spearhead the introduction of the SPV business in the Kingdom, the regulatory framework required for SPVs, secrecy and privacy laws, regional competition and prerequisites.
 
The roundtable is in line with BAMA’s efforts to support further growth and innovation in the kingdom’s asset management industry through engagement and co-operation with the regulators, decision-makers and legislators that shape and provide oversight of the industry.
 
“We’re delighted to announce this roundtable event to be held with the support and participation of the Central Bank of Bahrain and the Economic Development Board. Jointly we will be looking to assess ways to further innovate and broaden the appeal of the Kingdom of Bahrain’s asset management industry and infrastructure," said Dr Al Jawhary.
 
"The SPV business is a significant one for asset managers and we believe given Bahrain’s strong business and regulatory environment that it is well positioned to become a leading regional and international hub for SPVs. The session will address the benefits of such action for the kingdom’s economy and asset management industry as well as the key success factors both from a legal and regulatory standpoint. We look forward to beginning this important discussion and establishing the foundations on which we can continue to drive development and innovation of the industry and build on Bahrain’s position as a long-standing and leading regional financial centre,” he added. - TradeArabia News Service



Tags: Bahrain | asset | management | roundtable |

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