What are the key advantages for international banks to establish their regional headquarters in Bahrain?
BNP Paribas Bahrain, Regional Director, Jean-Christophe Durand: There are many advantages. We are one of the few international banks to have its headquarters for the Middle East here. That was a decision made years ago because BNP Paribas Bahrain was in the region for 35 years. At the time, it was not a “fashionable” decision, but one based on very clear criteria. The number one criterion obviously being the quality of the supervising authorities, and the Central Bank of Bahrain has not only an excellent reputation but very good teams, very strong regulations behind them; it’s an institution that is very accessible, very good dialog, and a very good quality of supervision. It is very comforting to be under its jurisdiction which is well-controlled. Number two, our business, like many banking businesses is about people and building a regional center requires local competencies and the ability to impose specialized competencies and Bahrain is by far the easiest country from that perspect
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