The CBB concluded its visit to the Global Distribution Conference in Luxemburg
Published on 2 October 2019
Media Center  Press Release

Manama, Bahrain – 2nd October 2019 – In line with the Central Bank of Bahrain (CBB) efforts to continuously develop its supervisory and regulatory framework by engaging with leading financial centers’ regulators and market players, a delegation from the CBB, in coordination with HSBC, have participated in the Association of the Luxembourg Fund Industry (ALFI) Global Distribution Conference, that took place on 24 and 25 September 2019 at the European Convention Center Luxembourg.  The conference is considered one of the largest fund management forums in Europe and is held annually, involving more than 200 international fund managers, with around 600 delegates from over 25 countries.

The delegation held several one-to-one meetings with many industry professionals, including global asset managers, the Luxembourg financial regulator and the Luxembourg Stock Exchange. These meetings were aimed at promoting the mutual funds industry in the Kingdom of Bahrain, and the bilateral sharing of knowledge, expertise and best practices in the industry, given that Luxembourg is considered a leading financial center in mutual funds domain worldwide

Commenting on the outcome of the event, Mrs. Ebtisam Al Arrayed, the Director of the Financial Institutions Supervision Directorate at the CBB stated: “This visit was an opportunity to engage with the top mutual funds professionals and regulators in the world. The forum constituted a perfect platform to share the Kingdom of Bahrain’s extensive experience in the mutual funds industry that stretches back to as early as the 1980’s, as it was a pioneer in issuing mutual funds legislations in the GCC and MENA region, and continues to lead with a highly developed and well-tested regulatory framework.”

It is worth highlighting that the mutual funds sector is a fast growing segment of the asset management industry.  With approximately US$ 7.8 billion in assets under management, through more than 2,100 funds.  Overall, there are 80 Islamic funds that are incorporated and registered in Bahrain with total assets amounting to US$1.2 billion as of June 2019.


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