BFX sets up Product Development Working Groups.

Bahrain Financial Exchange (BFX), the first multi - asset exchange in the Middle East and North Africa, which is launching in the first quarter of 2010, has set up Product Development Working Groups (PDWGs) for Islamic and Conventional asset classes.

Two PDWGs have been launched: a PDWG Conventional and a PDWG Islamic.

The PDWG Conventional working group has a cross section of representatives with expertise from the financial services industry in the GCC region.

It comprises Fadhel Makhlooq, Principal, Investment and Treasury at SICO Bank; Hemant Kulkarni, Head of Funds and Investments, National Bank of Bahrain; Yaser Humaidan, Acting Head of Investment Management, Gulf International Bank; Wayne Andrews, Regional Treasurer Gulf and Pacific Rim, Arab Bank, all from Bahrain.

Those from the UAE are Fozan Al Mofleh, Executive Sales Trader, Shuaa Capital; Nabil Al Rantisi, Senior Vice President Brokerage, Rasmala Investment Bank, and from Saudi Arabia, Saeed Saif, Head of Regions - Brokerage, NCB Capital.

The Islamic working group includes Marco Mauri, Head of Listed Securities - Asset Management, Unicorn Investment Bank; Helmi Rashid, General Manager Treasury and Capital Markets, Elaf Bank; Hussam Saif, Khaleeji Commercial Bank and Anjum Shahzad, Head of Risk Management, Bahraini Saudi Bank.

Arshad Khan, Board Director at BFX said, "The PDWGs primary function is to provide input, guidance and feedback on the requirements of market participants in the development of products and the suitability of these products, in satisfying that demand."

2009 CPI Financial. All rights reserved.

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