Bahrain Financial Harbour initiates Corporate Governance Forum at its Client Relations Centre

The forum, supported by the BMA and organised by the Bahrain Bankers' Society is expected to attract the Kingdom's top bankers, including chief executives, chairmen and directors of the leading financial institutions and banks.

By bringing to the fore international best practises, the Forum is set to further consolidate the Kingdom's leading status in the region as a pre-eminent centre of excellence for the banking and financial sector. The inaugural reception hosted by BFH, ahead of the Forum's opening on November 28, was attended by about 350 top officials from the Kingdom's leading banks and financial institutions.

Welcoming the delegates to the reception, Mr. Esam Janahi, Chairman of Bahrain Financial Harbour Holding Company B.S.C. (c) said: "The Corporate Governance Forum is a landmark initiative that will see senior bankers from various institutions deliberate on developments and issues surrounding effective corporate governance, while also showcasing the latest developments in executive management guidelines and practices. It will provide valuable insights into topics ranging from fraud prevention and audit committees to governance models and standards.

"The forum could not have been held at a more opportune time, as the Arab banking industry is undergoing a paradigm shift against the backdrop of greater transparency and tighter regulatory regimes being instituted across the region."

Stressing on the Kingdom's leading role in the Middle East's banking sector, Mr. Janahi further said: "Bahrain, today, is at the epicentre of the region's booming financial markets. An acknowledged leader in terms of monetary expertise and regulation, its spectacular growth prospects are attracting an increasing number of regional and international financial institutions.

"As the private sector develops and regional financial markets grow, corporate governance takes centre-stage. Good corporate governance has now become a priority. That's the reason why the event is of special significance to BFH, which intends to play a major role in attracting foreign investments into Bahrain and strengthening its regional dominance in the financial sector."

The BFH project is a visionary development that effectively builds on this undisputed and continued leadership and is one of the most significant investment projects to have originated in the region.

In his inaugural address to senior bankers attending the reception, Mr. Janahi revealed BFH's new plan for an exclusive BFH Privilege Club - a one-stop facility providing high-quality personalised services for members and their guests.

The new offering will be a holistic management service programme that will provide a range of premium support services to banks and financial institutions, targeting potential BFH occupiers and their guests including senior corporate executives of financial institutions and banks, besides also catering to various governmental authorities.

The Privilege Club's unique BFH Executive Meet and Assist Service, one of the many services to be offered, is expected to be launched in the first quarter of 2005, to coincide with the 4th Gulf Excellence Forum being held in Bahrain in February, which will be co-organised by BFH and the Gulf Excellence Consultancy Company in Bahrain. On the occasion, a number of key institutions and senior executives will be invited on a courtesy basis to experience a level of service that will be provided exclusively to BFH Occupiers.

Highlighting the significance of the Privilege Club, Mr Janahi said, "In keeping with the overall value proposition of BFH, the BFH Privilege Club is a premium lifestyle offering which provides first-rate personalised services to its members and guests. BFH, will gain competitive advantage by being the first and only provider for such an exclusive and unique service, which will compliment the physical environment and create a strong base for unique services that are of an interest for the financial community."

Mr. Janahi said the Privilege Club will be one of the many services provided for creating a world-class self-contained business environment at BFH that will go a long way in reaffirming its strong position in the global arena.

Emphasising the importance of the Privilege Club, Dr. Fareed Al Mulla, Chairman of Bahrain Banker's Society said, "Bahrain holds a prestigious place as the region's premier financial and banking hub, supported by a strong regulatory environment. The banking sector in Bahrain is growing as it capitalises on the booming economies of the region. The BFH Privilege Club is a step in the right direction that will strongly back Bahrain's financial sector growth."