Bahrain-based Keypoint Consulting, a leading professional business services provider in the region, has been licensed as a fund administrator under the new regulations issued by the Central Bank of Bahrain (CBB).

Keypoint was incorporated in 2006 in Bahrain and remains at the forefront for conducting all aspects of professional business services.

Keypoint was earlier registered with the CBB as an authorised administrator and is the first organisation to receive the fund administrator licence under Rule Book Volume 5 of the CBB relating to fund administrators.

"The CBB welcomes Keypoint's prompt decision to restructure the company to comply with the CBB's recently released requirement in Rule Book Volume 5 that fund administration services be carried out by a company in existence, only for that purpose," said CBB director of licensing and policy directorate Ahmed Abdul Aziz.

"We are proud to have obtained the CBB approval for our licence as a fund administrator," said Keypoint managing director Wajdi Y Al Jallad.

"No doubt, this is a great achievement for our organisation.

"We remain committed and dedicated to Bahrain's economic vision and take great pride in taking part in the growth of the kingdom's goals towards creating a friendly and efficient business environment.

"We look forward to continuing supporting growth of economic sectors in several disciplines of businesses and upholding our reputation as a leading professional services provider."-TradeArabia News Service