The Bahrain Asset Managers Association (BAMA) hosted a high level panel discussion recently aimed to examine the opportunity and significance of promoting and positioning Bahrain as a regional and international hub for Special Purpose Vehicles (SPVs). The "Special Purpose Vehicles (SPV) and Corporate Entities Component in Investment Banking & Asset Management" event was held last March 29 in cooperation with the Central Bank of Bahrain (CBB) and the Bahrain Economic Development Board (EDB), aimed to examine the opportunity and significance of promoting and positioning Bahrain as a regional and international hub for SPVs. Key panelists at the discussion were Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB); Abdulrahman Al Baker, Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain; and Dr. Ahmed Al Jawhary, Chairman of BAMA and CEO of J Equity Partners. Together, panelists deliberated the significance of promoting and positioning Bahrain as a regional and international hub for the SPV business and the economic benefits and the spill over effects of SPV related activities on the local economy. The discussion also addressed who should spearhead the introduction of the SPV business in the Kingdom of Bahrain, the regulatory framework for SPVs, secrecy and privacy laws, regional competition and the prerequisites for making Bahrain an attractive SPV hub. The roundtable is the first of a series of events to be hosted by BAMA in support of further growth and innovation of Bahrain's asset management industry. BAMA aims to foster engagement and co-operation between its members and regulators, decision-makers and legislators that shape and provide oversight of the industry and the promotion of key sectors of the economy. Al Rumaihi said "Bahrain is a leading asset management center in the region, with four decades of experience, and asset managers now distribute more funds from our shores than from anywhere else in the Middle East. The sector benefits from our core strengths, including the diverse pool of quality talent, our strong regional connectivity and the cost-competitive environment. The Central Bank of Bahrain and the Kingdom's government are also progressing a number of important regulatory initiatives that will further strengthen our offering." Al Baker, Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain said "we expect the asset management sector to continue its growth in the coming years, mainly due to the surge in the economic growth of the Kingdom and the region, as well as the soundness of the regulatory and supervisory framework of the asset management sector in Bahrain". Al Jawhary added, "The roundtable session is in line with BAMA's efforts to promote the Kingdom of Bahrain as a regional and international hub for this specialized element of investment banking and asset management. The session was an important first step in addressing the opportunity for the SPV business in Bahrain and emphasized the significance of dialogue between all stakeholders in the financial sector. Professional and interactive channels of communication and introduction of a think tank element comprising practitioners, investment firms and asset managers licensed under the CBB from one side and the regulator, law and decision makers from another side are critical in perfecting the legislative and technical framework for such a critical industry."