BAHRAIN DELEGATION ARRIVES AT IMF ANNUAL MEETINGS AND IIF FORUM

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BAHRAIN DELEGATION ARRIVES AT IMF ANNUAL MEETINGS AND IIF FORUM

 
A Bahraini delegation, led by H.E. Sh. Ahmed bin Mohammed Al Khalifa, Minister of Finance, and attended by H.E. Rasheed Al Maraj, Governor, Central Bank of Bahrain, landed in Washington, D.C. today ahead of the annual meetings of the IMF and World Bank.
 
The meetings, which begin Friday 11th October, also see the start of an intense period of work by the Bahrain Economic Development Board as it looks to attract international investment in the Kingdom’s financial sector.
The Annual Meetings of the World Bank Group and the International Monetary Fund bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.
 
Bahrain EDB is sponsoring the Institute of International Finance Annual Forum, an event held on the sidelines of the main meetings. Among the Institute’s members are commercial and investment banks, sovereign wealth funds, asset managers, hedge funds, insurance companies, and multinational corporations. The IIF Annual Forum is expected to attract more than 1,000 delegates.
 
Bahrain EDB will also be a lead sponsor of the annual Banks in Bahrain Reception, which takes place on October 12th in the Fairmont Hotel. Held on the sidelines of the IMF/World Bank meetings, the reception aims to showcase Bahrain’s financial services sector.
 
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the EDB, said:
“Bahrain EDB is very proud to be a part of the delegation at one of the world’s leading financial conferences.
“The Gulf market is worth $1.5tn and is one of the world’s most important growth markets for financial services. As strong hydrocarbon revenues and economic diversification projects continue to drive expansion in the region, the demand for financial services is set to increase.
 
“Bahrain’s skilled local workforce, low operating costs, tried and tested regulation, and excellent market access make it an ideal location from which to access this market.”
 
 The IIF is the world’s only global association of financial institutions. The EDB is one of two sponsors of this year’s IIF Annual Forum.
 
 
 
-ENDS-
 
 
 
Notes to editors

About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
 
Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.
 
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com 
 
Further information please contact:

Noora Abul, Bahrain Economic Development Board
Tel: +973 17 589 903
Email: internationalmedia@bahrainedb.com