His Excellency Sheikh Mohammed Bin Essa Al Khalifa reaffirms support during meeting at BFX headquarters at Bahrain Financial Harbour

Manama, Bahrain - 11 April, 2011:  His Excellency Sheikh Mohammed Bin Essa Al Khalifa, Chief Executive of Bahrain's Economic Development Board (EDB), visited the Bahrain Financial Exchange (BFX) as part of the EDB's efforts to reaffirm support for businesses and facilitate the growth of Bahrain's economy.

Mr. Arshad Khan, Managing Director and CEO of the BFX and the BFX Clearing and Depository Corporation (BCDC), accompanied the high level EDB delegation on their tour of the BFX facilities including their state-of-the-art offices, trading floor and the BFX Training Institute (BFX-TI).

H.E. Sheikh Mohammed Bin Essa Al Khalifa commented, "The EDB continues to encourage Foreign Direct Investment (FDI) into the Kingdom, especially in the financial sector which is the main contributor to Bahrain's GDP. The EDB will continue to support all efforts in building a strong well-diversified economy. We helped in establishing the BFX in Bahrain with an objective of creating wider employment opportunities for Bahrainis".

Commenting on the visit, Mr. Arshad Khan, said: "The Bahrain Financial Exchange is dedicated to business in Bahrain and the region, and to guaranteeing business sustainability. Our Islamic division 'Bait Al Bursa' has been continuously operational since its launch in February this year, and our conventional multi-asset trading platform will commence operations in the coming weeks. The BFX intends to carry on promoting its services and gaining recognition as a leading exchange venue for investors within the region. The EDB's support in setting up the BFX and Bahrain's reputation as the 10th freest economy in the world has given us the ideal platform from which to expand into the MENA region."

The Bahrain Financial Exchange is a wholly owned subsidiary of the Financial Technologies Group, located in the Bahrain Financial Harbour, and a pioneering cross-border and multi-product exchange in the Middle East and North Africa. The BFX is internationally accessible to trade cash instruments, derivatives, structured products and Shariah-compliant financial instruments.

-Ends-

About Bahrain Financial Exchange (BFX):
The Bahrain Financial Exchange (BFX), the pioneering cross border, multi-asset exchange in the Middle East and North Africa which is internationally accessible to trade securities, derivatives, structured products and Shariah-compliant financial instruments. The BFX was officially launched on 1st February 2011, and commenced live operations of its Islamic division Bait Al Bursa through the e-Tayseer platform on 7th February 2011. 

The BFX has set up the BFX Clearing and Depository Corporation (BCDC) to clear and settle the contracts it trades, both of which are licensed and regulated by the Central Bank of Bahrain (CBB).

The BFX is a wholly owned initiative of Financial Technologies Group (FT Group), which currently owns one of the world's largest networks of 10 exchanges connecting fast‐growing economies of Africa, Middle East, India and South East Asia.

Bait Al Bursa is an Islamic finance division of the BFX, exclusively offering electronic exchange traded Islamic financial instruments. Bait Al Bursa signifies the 'Home of Exchanges', and represents the BFX's vision of providing a single venue for all exchange traded business in the Islamic finance sector.

The BFX Training Institute (BFX-TI) is an internationally accredited training institute, providing world class conventional and Islamic financial training courses.

The BFX is a member of the Futures and Options Association (FOA), the International Islamic Financial Market (IIFM), the Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI), and a member of the Associations of Futures Markets (AFM). 

www.bfx.bh 

For media enquiries, please contact:
Afrah Faraj
Hill & Knowlton
Phone: +973 17533532
Email: afrah.faraj@hillandknowlton.com

Narjes Yousif
Press & PR Executive
Bahrain Financial Exchange
Phone: +973 1651 1511
Mobile: +973 39339430
Email: narjes.yousif@bfx.bh

© Press Release 2011