Dammam, Saudi Arabia/Manama, Bahrain – Jersey Finance, a leading international financial centre, continued to strengthen its regional engagement with two significant events this week: “Navigating Control in Family Business” in Bahrain on October 13 and “NextGens’ Role in the Family Enterprise” in Dammam on October 15. 

In Manama, the roundtable, co-hosted by STEP Arabia, convened senior stakeholders, policymakers and financial leaders to discuss legal, operational, governance, financial, tax, and investment considerations for family enterprises when planning for succession, within the context of the family maintaining and exercising control.

Speaking on the roundtable, Faizal Bhana, Director – Middle East, Africa and India, Jersey Finance, commented: “Our roundtable in Bahrain underscored the increasing importance families in the Gulf are placing on structuring for control in succession planning. Issues such as taxation, professional versus family management, and multi-generational governance are complex. Still, by sharing regional and international perspectives, we can help families adopt solutions that preserve both control and integrity across generations.”

Meanwhile, in Dammam, Jersey Finance brought together second- and third-generation family members, wealth stewards and advisors to explore the evolving role of NextGen family members in shaping the future of family enterprises. The evening featured keynote insights and panel discussions focused on succession planning, governance and balancing tradition with innovation. Attendees also participated in networking sessions connecting NextGens with leading financial, legal and investment experts.

Faizal Bhana, during the event, said: "We are at a pivotal juncture; the NextGens aren’t just inheriting family legacies, they are actively reshaping them. This event highlighted how the younger generation is driving new thinking, strategic investments and governance models that ensure family enterprises remain resilient for decades to come.

 Our discussions showed that bridging generational perspectives is the key to sustaining growth. NextGens in Saudi Arabia and across the Gulf are eager to bring innovation and global connectivity into their family businesses, while safeguarding the values and traditions that define them.”

The two events come at a time of heightened focus on family offices and generational transition in the region. Recent industry reports indicate that GCC family offices are shifting toward institutional governance and global investment strategies, with younger family members assuming an increasingly central role. According to a Campden Wealth and HSBC Global Private Banking report, the intersection between family offices and early-stage startups is poised to expand in the region. 58% of MENA family groups are active in venture capital, favouring early-stage investments such as angel and seed funding at 50%, as well as growth-stage opportunities at 50%. 

In Saudi Arabia, family enterprises remain a cornerstone of the private sector and their evolution is considered crucial to achieving Vision 2030’s diversification objectives.

About Jersey:

Jersey has been a leading international finance centre for more than 60 years. It has a forward-thinking and ESG-driven approach and is at the forefront of banking, corporate services, fintech, funds, investment management, private wealth, and the specialist areas of Islamic finance and philanthropy. Financial firms in Jersey provide services to clients around the world.

About Jersey Finance:

Jersey Finance is proud to represent and promote the Island of Jersey as a clear leader in international finance. We champion the competitive position of Jersey’s finance industry, both locally and internationally, supporting the highest regulatory standards and the most attractive products and services to suit the needs of global investors.

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Media contacts
Yasa Ahmad
Edelman Smithfield
Email: yasa.ahmad@edelmansmithfield.com