Bahrain issues first new investment licence

Bahrain-based asset manager BAGS Capital has become the first firm to secure an investment business category 4 licence from the central bank.

The new licence category applies to specialist fund managers who operate, manage and market collective investment undertakings exclusively for accredited investors.

“We believe that this new license category will contribute to introducing new types of investment business firms and will provide new opportunities to experienced investment bankers to establish their own asset management boutique in the Kingdom of Bahrain,” said Ebitsam Al Arrayed, director of financial institution supervision at the Central Bank of Bahrain (CBB).

BAGS Capital specialises in managing investment funds with an initial focus on the grain supply sector.

The CBB has also introduced a new investment business category to cater for the growing influence of family offices.

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