This legal agreement establishes fiduciary responsibility for investor assets, and is a tool used for family succession planning or for companies to protect pension monies. The move marks BahrainÆs gambit to take on Singapore, Dubai and other competitors as a centre for wealth management.
ôThe CBB is putting in place all the processes and procedures required for the full implementation of the law,ö says Mohammed Ayman Al Tajer, director of financial institutions supervision at the CBB in Manama. This includes ensuring their secrecy....
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