Bahrain region’s ‘first choice’ for mutual fund managers: expert

Bahrain region’s ‘first choice’ for mutual fund managers: expert

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MANAMA: Bahrain has become the jurisdiction of choice in the region for the establishment of investment funds, with the launch of new rules that offer speed, simplicity and flexibility, according to a legal expert.

Brian Howard, partner and head of the international funds team at Trowers & Hamlins told the GDN that the Central Bank of Bahrain’s (CBB) new collective investment undertakings (CIU) regulations now makes a wide spectrum of investment fund structures available to prospective managers following a simplified notification process.

“Investments in crypto assets will also be available under retail funds which can be part of a diversified portfolio,” said Mr Howard on the sidelines of a Press conference held at the Four Seasons Hotel Bahrain Bay yesterday, where the CBB shared key features of the new rules governing the mutual funds industry.

The changes come after the CBB realised that administrative processes and authorisation requirements for establishing and marketing funds needed to be simplified in line with fast-paced changes in the industry.

Talking about the expected impact of the changes, Ebtisam Al Arrayed, director of financial institutions supervision directorate at the CBB, said: “The enhanced regulatory framework forms part of CBB’s Financial Services Development Strategy (2022-2026) and will set the environment