Bahrain is keen to attract and grow the alternative asset management sector, including hedge funds, according to Sheikh Salman Isa Al Khalifa, executive director of banking operations at the Central Bank of Bahrain.
Al Khalifa – speaking at the Hedge Funds Review Middle East Investment and Risk Middle East summit in Bahrain today – said the Kingdom was well placed to encourage the sector's growth, particularly for funds and managers that want access to the $1 trillion economy offered by the countries of the Gulf Co-operation Council (GCC). He also said Bahrain was a good base from which to access other states in the Middle East and North Africa.
Bahrain's developed infrastructure and services offer fund managers a "strong base of operations", according to Al Khalifa, who added: "Bahrain provides opportunities for the fund management and alternative assets industry as they explore the landscape post-financial crisis. It has much to offer." At present there are close to 3,000 fund management operations in the region, managing $15 billion worth of assets. He added that the Kingdom is also keen to encourage more insurance sector activity.
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