“The Kingdom of Bahrain possesses a legislative and organizational environment and attractive to investing in the financial and banking sector, which is based on its development on its continuous processing of the latest technological technologies based on creativity and innovation, as it pays great attention to continuing the development of the financial and banking sector by creating all means and providing the ingredients that enhance the efficiency of his performance to continue his contributions in supporting economic growth with what is accompanied by The requirements of development and sustainability in order to enhance the Kingdom’s status as a global financial center. The Kingdom of Bahrain in its ability to create and create more investment opportunities that support various development endeavors, and prepare qualitative opportunities for society, in light of the serious work to achieve the goals of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, the king of the country, may God protect and preserve him, and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister, may God protect him.
It was remarkable the statements that came from officials and bankers during the inauguration ceremony, especially from the Chairman of the Kuwait Finance House, Mr. Hamad Abdel Mohsen Al Marzouq, who “expressed his pride in launching the new identity of the bank in the Kingdom of Bahrain”, while Dr. Shadi Zahran, CEO of the Kuwait Finance House-Bahrain, noted that “Bahrain’s economic vision 2030 represents a permanent inspiration through work through work Translating its goals by expanding the base of Islamic financing, promoting innovation, and contributing to the consolidation of the Kingdom of Bahrain’s position as a financial and banker at the regional and global levels “, while” Mr. Khaled Youssef Al -Shamlan, CEO of the Kuwait Finance House Group, expressed his pride in participating in this historic moment “, saying:” I am honored to be present in the sisterly Kingdom of Bahrain, to complete a series of successes in launching Our new brand is under the slogan “Horizons Without Borders”.
A few days ago, the report “The Calculation of Business in the Gulf Cooperation Council countries” for the financial services sector issued by the “Ernst & Young” office in the United States of America revealed that the Kingdom of Bahrain is the most competitive destination in the Gulf in terms of the cost of operating financial services companies that manage technical centers, and the report indicated that this cost is decreasing in Bahrain by up to 48% compared to the Gulf Cooperation Council countries, where the aspects that were evaluated in The report compared to the level of the Gulf Cooperation Council countries, both of the offices, the polarization of competencies, the establishment of businesses, and the taxes, in addition to the costs of visas, work and accommodation permits.
The report indicated that the annual employment costs of the Financial Services Technology Center in Bahrain are 24% lower than the Gulf Cooperation Council countries. In addition, companies can save 85% of annual business and licenses, and enjoy a 60% better value to rent office space.
The director and co -chair of the quantitative economy and statistics, “Quest”, in “Irnst and Young”, Mr. Andrew Phillips, commented on the report, saying, “The competitive cost in Bahrain provides a commercial climate that is appropriate for innovation in financial services, and provides the costs of Bahrain’s cost compared to other Gulf Cooperation Council countries for financial services technology centers to direct its financial resources towards Innovation instead of basic operating expenses. ”
In the same context, the Economic Development Council announced the attracting investments exceeding 250 million US dollars from companies based in the United Kingdom during the past three years (2022-2024 », and included a number of vital sectors, including financial services, information technology, communications, education and tourism.
This announcement came during the visit of a delegation from the Economic Development Council to the United Kingdom headed by the Minister of Sustainable Development, CEO of the Economic Development Council, His Excellency Mrs. Nour Bint Ali Al -Khalif, while officials from the Council participated in the visit, during which they held work meetings with British investors, and participated in activities and meetings that dealt with the most prominent trends and developments of industry and logistical services sectors, where the visit aimed to highlight investment opportunities in Bahrain in front of companies And British investors to attract more investors.
These global and international certificates are the culmination of the government’s efforts represented in the Ministry of Finance and National Economy, and the Economic Development Council, where Bahrain always confirms through its distinguished measures that it has a growing attractive attractiveness as a strategic investment destination, in addition to seeking to enable global financial institutions to benefit from their unique advantages and the logistical capabilities it provides to advance technological progress at the Gulf, regional and Arab levels And international.
