Rasheed Al-Maraj, governor of the Bahrain Monetary Agency BMA, and Sheikh Mohammed Bin Essa Al-Khalifa, chief executive of the Bahrain Economic Development Board will be at the London Stock Exchange on 9.00 am on March 28 to “lift the veil” and dispel the myths around the Middle East’s banking and the long term economic prospects for the region.
The two hope to show Bahrain’s financial centers as steady and diversified for growth. There is rapid expansion at home, but still there is increasing keenness to invest internationally, a news release from BMA said.
The news release said Bahrain is leading the way in innovating Islamic finance which is growing at a rate of 15 per per annum in Bahrain (BMA was instrumental in setting up the Accounting and Auditing Association Organisation for Islamic Financial Institutions). In March 2006, BMA announced plans to launch the Gulf region’s first Islamic repo over the next 12 months to manage liquidity in the sukuk market.