BAMA presents plans for 2017

MANAMA — The Bahrain Asset Managers Association (BAMA) recently hosted a high level networking event bringing together leading asset managers and other relevant stakeholders across the asset management sector in the Kingdom to review its work in 2016 and map out the Association’s plans and objectives for 2017. The event was attended by a number of industry professionals, BAMA members and its Board. In addition, also present were key regulatory and investment promotion organizations from the Kingdom including Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain (CBB), Abdul Rahman Al Baker, and Dr. Simon Galpin, Managing Director at the Bahrain Economic Development Board (EDB). In 2016, its first full year of operations, BAMA successfully held a number strongly attended and well-publicized events. This included a high-level panel on “Special Purpose Vehicles (SPV) and Corporate Entities Component in Investment Banking & Asset Management” held in cooperation with the CBB and Bahrain Economic Development Board (EDB). The event looked to examine the opportunity and significance of promoting and positioning Bahrain as a regional and international hub for the SPV business. Other notable activities included co-sponsoring, alongside the CBB, the Middle East Asset Management Forum in May 2016. The Forum was CBB’s debut event in its efforts to enhance and support the asset management sector in Bahrain. BAMA also launched its official website in 2016. in order to enhance its ability to better reach more players in the industry both locally and internationally. BAMA’s Board of Directors also presented upcoming plans and objectives for the Association’s activities and events in 2017, which are aimed at further supporting the development and diversification of the Kingdom’s asset management industry. The agenda for 2017 includes increasing the level of interaction with international professional bodies and associations with specific interests in promoting and enhancing the asset management profession and also planning debate and discussion forums on topics aimed at helping to tackle the challenges and concerns related to the industry and possible remedies and solutions that asset managers can consider including those that the Board of Directors of BAMA has already taken steps to communicate to financial authorities and other concerned parties. Among the top areas of focus in the year ahead are raising awareness about undertaking regulated investment services by nonregulated entities, privacy and confidentiality of commercial registrar for financial institutions, introduction of compulsory claw-back provisions and clauses in investment offerings, and eradicating the misleading practices in naming and labelling of the unregulated entities with implicit financial and investment connotation. Commenting, Dr Ahmed Al Jawhary, CEO of J Equity Partners and Chairman of BAMA, said, “We are delighted to have completed our first full year of operations in 2016, during which time we undertook a number of key activities to support in the effective positioning and promotion of the Kingdom of Bahrain as a regional and international centre for asset management. We are especially grateful to the Central Bank of Bahrain for their cooperation and their ongoing work to develop and implement frameworks to support industry advancement. We would also like to thank the Economic Development Board for their support and continued efforts to ensure Bahrain remains a business friendly hub for financial services and other related activities. We look forward to building on the momentum BAMA has achieved in 2016 and delivering even further value for our members and the industry in the year ahead.” The Bahrain Asset Managers Association is a professional body established to represent and promote the interests of Bahrain›s asset management industry - including both Islamic and conventional financial institutions specialized in asset management. It was officially established in May 2014 under the patronage of the Central Bank of Bahrain, and with blessings and support from key elements of the local financial community in the Kingdom. — SG