The Hedge Funds Weblog
New Hedge Fund Regulations in Bahrain
Bahrain is a leader in the Persian Gulf as a hedge fund center, with over 2,000 authorized funds, including over 100 locally domiciled funds.
The Central Bank of Bahrain (CBB) is now finalizing new regulations that they hope will open up the development of a regional industry of hedge funds, derivatives and other alternative investment instruments.
The new framework will create a new category of "Exempt" schemes. These schemes will be required only to register with the CBB, rather than be authorized, and will not be subject to on-going supervision. They will not be regulated, but may only be sold to a restricted investor base;- those able to make a minimum investment of US$100,000, and with at least US$1 million in financial assets, and subject to verification by the institution selling the product that the investor fully understands the risks involved. -More here.
One Comment so far ...
Bahrain’s move to streamline Hedge Funds regulations is much appreciated and will go a long way in positioning it as the “Switzerland of the Middle East”.
A status it once had but unfortunately lost during the Iran / Iraq conflict. It was at that time that Dubai picked up the slack…and has not looked back.
Comment on September 20, 2007 08:20 am