The Bahrain Financial Exchange, or BFX, plans to woo investors in oil-rich Saudi Arabia and aims to sell a minority stake to a strategic investor, the exchange's director said Tuesday.
The new bourse, licensed by Bahrain's central bank, plans to start operations in the first quarter of 2010.
"We're keen to attract players from all Middle Eastern countries, especially Saudi Arabia as it's a sophisticated financial market," Arshad Khan told Zawya Dow Jones. "Our location will help us reach out for investors there as Bahrain has been always a gateway for Saudi Arabia."
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