New company to have headquarters in Manama
Bahrain will host the Middle East headquarters for BMR Advisors, a global consultancy firm with vast experience in financial and other vital sectors of the global economy.
BMR Advisors, India's leading international risk consulting firm with a global client base, has announced a strategic alliance with the Bahrain-based Al Fanar Group.
BMR Advisors' Manama offices will offer wide range of tax, risk, merger and acquisition advisory and managed services to the businesses of all sizes.
The joint venture BMR Advisors Middle East WLL will have its headquarters in Bahrain and aimed to fill the gap for high quality risk consultants in the Middle East market.
The advisor to the Prime Minister Abdulnabi Al Sho'ala, who is also chairman of Al Fanar Investment Holding Company, said that the joint venture with BMR would open numerous venues of growth by bringing in the global expertise initially in the financial sector.
Al Sho'ala said: "Bahrain is the financial services hub in the Middle East and is poised to significantly strengthen its leadership position in the region over the coming years. We are excited to partner with BMR to develop specialist skills in our region to bridge the gap in the fast-growing risk business."
"We held talks with the Central Bank of Bahrain and briefed the top officials about the services being offered by the BMR as a global consultant firm with over 450 professional. The company intends to enter the construction, retail, telecom and oil and gas sectors at a later stage."
Bobby Parikh, managing partner, BMR Advisors said: "The opening of an office in Bahrain will allow us to further build upon our success and demonstrates our commitment to the region."
Sanjay Mehta, partner, BMR Advisors said: "We are pleased to form this joint venture with Al Fanar Group. Our aim is to provide the best value, high quality risk consulting advice to the growing Middle East market."
"In today's highly demanding business environment, companies across the globe are facing pressure to comply with a raft of regulatory requirements. Basel II, anti-money laundering, Sarbanes-Oxley, FCPA etc as more and more organisations are recognising the vital strategic role played by the identification and analysis of risk as a driver of increased stakeholder value."
"We're uniquely positioned to help your organisation to control and mitigate exposure to regulatory and compliance risks - while at the same time helping you to reap the benefits of a risk-based management approach."
"BMR is a professional services organisation offering a range of Risk and advisory services for local and global businesses of all sizes. BMR enhances value for clients by focusing on solutions that are innovative, yet practical and that can be implemented. BMR does this by blending domain expertise with analytical rigour, while maintaining an uncompromising focus on quality and by hiring and nurturing high quality professionals with a passion for excellence."
"BMR with presence in New York, London, San Francisco, Delhi, Mumbai and Bangalore and it's main area of focus is financial services, telecom and oil and gas industry segments. It also provides specialist services in the areas of anti-money laundering, Basel II, Sarbanes-Oxley, business risk, technology risk, internal audit and due diligence to numerous Fortune Global 500 companies."
By Mahmood Rafique, Business Correspondent
© Bahrain Tribune 2008
