EastNets announces participation at Middle East Financial Technology Summit in Bahrain

At the event, which is uniquely focused on the region's financial industry, EastNets alongside its partner - Microsoft - will be showcasing a host of leading-edge products. EastNets participation at MEFTEC comes at a time when the regional financial industry is recording its fastest growth and will help the company to expand its services, aggressively into the regional market.

Hazem Mulhim, CEO of EastNets said,

"Participating in MEFTEC 2006 is part of EastNets' strategy to target the growing financial sector in the GCC. As the regional outlook in technology implementation for the financial sector increases, it become important that organisations are exposed to best-of-breed technologies that enable an organisation to conduct business seamlessly, whilst complying with regulatory reporting mechanisms, in a quick, secure and transparent way. Our focus is to enable organisations to gain hands-on exposure to the technologies that are available in the market."

EastNets had opened an office in Manama in early 2005, widening the reach of its services in the Kingdom. Bahrain has made significant progress in securing its position as the location of choice for financial institutions in the Middle East region.

The Bahrain Monetary Agency (BMA) has undertaken a number of regulatory and market development initiatives, to support the continued growth and advancement of the financial services industry. EastNets has already begun work with several clients in Bahrain.