21 March 2016
-- Key industry and economic players including CBB and EDB to take part--

Manama - The Bahrain Asset Managers Association (BAMA) today announced that it will host a high level panel discussion on the 29th March 2016 on "Special Purpose Vehicles (SPV) and Corporate Entities Component in Investment Banking & Asset Management".

The event is being held in cooperation 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 His Excellency Zayed Bin Rashid Al Zayani, Minister of Industry & Commerce, Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, Mr. Abdulrahman Al Baker, Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain and Dr. Ahmed Jawhary, Chairman of BAMA.

Together 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.

Commenting, Dr. Ahmed Al Jawhary, Chairman of BAMA, said, "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. 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."

The Bahrain Asset Managers Association is a professional body established to represent and promote the interests of Bahrain's asset management industry - including both Islamic and conventional financial institutions specialized in asset management. It was officially established in May 2014 under the patronage of the Central Bank of Bahrain, and with blessings and support from key elements of the local financial community in the Kingdom. 

-Ends-

Sawsan Fraidoon
Senior Associate
P.O. Box 1468
Platinum Tower, 12th Floor
Manama, Kingdom of Bahrain
T +973 17 749 759
F +973 17 006585
M +973 32220413
sfraidoon@finmarkcoms.com

© Press Release 2016