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Financial market entry office provides services in English: Japanese Embassy

January 24, 2021
finance & economy

The Bahrain Association of Banks (BAB) hosted a remote session organized by the Japanese Embassy in Manama, during which they discussed cooperation between the financial and banking sectors in both countries and the recent initiatives of the Japanese government to boost the financial market and attract more businessmen and professionals to Japan.

During the session, the Japanese side announced a new initiative by providing all services of the “Japanese Financial Market Entry Office” in the English language, which is the office that facilitates the flow of foreign investments to Japan, by being a single point of contact for all financial companies wishing to invest in the Japanese market.

The Japanese side pointed out that the development of this office’s work is part of the Japanese Government’s range of initiatives aiming to transform Japan into a global financial center in Asia and the world, in a way that helps diversify financial and business centers around the world, and contributes to creating new job opportunities and increases economic growth rates in Japan.

Dr. Waheed Al Qassim, CEO of the Bahrain Association of Banks (BAB), affirmed that this session aims to promote cooperation between Bahraini financial and banking institutions and their Japanese counterparts as a vital part of economic cooperation in a way that increases the level of the distinguished relations between Bahrain and Japan at various levels. He indicated that the relations between Bahrain and Japan started in 1934 with the first oil shipment then the formal relations kicked off between the two countries in 1971.

“We hope that the initiative to use the English language for the first time in the “Japanese financial market entry office” would establish a starting point towards more opportunities and experiences in the financial sectors in both Bahrain and Japan, in a way that would contribute to the increasing diversification of investment opportunities in international markets for Bahraini financial and banking institutions, especially in Southeast Asian countries whose markets have countless opportunities of growth and prosperity. We also aim to update Bahraini institutions on the latest trends in the field of the financial and banking industry, in light of the geopolitical changes in many countries.” Dr. Al Qassim added.

“The available data show that the balance of trade exchange between Bahrain and Japan exceeds one billion dollars annually from exports and imports of various types of goods and commodities, in addition to the increasing Japanese commercial presence in Bahrain through five financial companies, two commercial companies, and ten industrial companies working in different fields.” Dr. Al Qassim concluded.

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