| 07 Oct 2009 |
|
BFX Announces Product Development Working Group
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Manama, Bahrain, 07, October 2009, Bahrain Financial Exchange (BFX)Bahrain Financial Exchange (BFX)
, the first multi - asset exchange in the Middle East and North Africa, launching in Q1, 2010, has announced the establishment of its Product Development Working Groups (PDWGs) for Islamic and Conventional asset classes.This initiative is part of the BFXBFX
strategy which ensures that its products meet the needs of its users whilst adding value, and is part of a process to ensure that BFXBFX remains market driven.Two distinct PDWGs have been launched: a PDWG Conventional and a PDWG Islamic.
The PDWG Conventional working group has a cross section of representatives with a high degree of expertise from the financial services industry in the GCC region.
It comprises of participants from Bahrain Mr. Fadhel Makhlooq, Principal, Investment and Treasury at SICO BankSICO Bank
, Mr. Hemant Kulkarni, Head of Funds and Investments, National Bank of Bahrain,National Bank of Bahrain, Mr. Yaser Humaidan, Acting Head of Investment Management, Gulf International BankGulf International Bank, Mr. Wayne Andrews, Regional Treasurer Gulf and Pacific Rim, Arab Bank. Participants from UAE are Mr. Fozan Al Mofleh, Executive Sales Trader, Shuaa CapitalShuaa Capital, Mr. Nabil Al Rantisi, Senior Vice President Brokerage, Rasmala Investment BankRasmala Investment Bank, and from Saudi Arabia, Mr. Saeed Saif, Head of Regions - Brokerage, NCB CapitalNCB Capital.Similarly the PDWG Islamic working group has been selected with a focus on satisfying the specific market requirements of this dynamic industry.
The Islamic working group includes Mr. Marco Mauri, Head of Listed Securities - Asset Management, Unicorn Investment BankUnicorn Investment Bank
, Mr. Helmi Rashid, General Manager Treasury and Capital Markets, Elaf BankElaf Bank, Mr. Hussam Saif, Khaleeji Commercial BankKhaleeji Commercial Bank, Mr. Anjum Shahzad, Head of Risk Management, Bahraini Saudi BankBahraini Saudi Bank.Arshad Khan, Board Director at BFXBFX
expressed his happiness on completion of an important milestone in the setting up of BFXBFX and said "These groups consist of experts drawn with the relevant background to ensure a robust process of product development and continual improvement in the BFXBFX products which will ultimately result in greater participation and increased liquidity".He added "The PDWGs primary function is to provide input, guidance and feedback on the requirements of market participants in the development of products and the suitability of these products, in satisfying that demand. I welcome all participants and look forward to working with them and making the BFXBFX
product portfolio a market leader''.This achievement of the BFXBFX
underscores its commitment to the market for developing products which are in line with market requirement and its users.- Ends -
- The Bahrain Financial Exchange (BFX)Bahrain Financial Exchange (BFX)
will begin trading in Q1, 2010.- The BFXBFX
is licensed and regulated by the Central Bank of Bahrain (CBB) to trade multi assets including cash instruments, derivatives, structured products and Sharia-compliant financial instruments.- BFXBFX
is a wholly owned subsidiary of the Financial Technologies Group.- The Exchange has an international standard in-house training facility.
- Website: www.bfx.bh
- The BFXBFX
is a member of the Futures and Options Association of FOA.For more information, please contact:
Narjes Yousif
Tel:973 16 511 511
Email: narjes.yousif@bfx.bh
© Press Release 2009
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