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(From Insurance Day)
Byline: Jon Guy and Richard Banks
BAHRAIN has announced its intention to create a new insurance hub for the Middle East in a purpose-built multi-million-dollar centre.
The scheme is the brainchild of the Bahrain Monetary Agency (BMA), which has revealed it has launched "a major project to create a world-class insurance market of providers of insurance, reinsurance and specialist insurance services, on both conventional and Islamic bases".
The Bahrain International Insurance Centre (BIIC) project has already received the approval of Sheikh Khalifa bin Salman al-Khalifa, prime minister of the kingdom of Bahrain and chairman of the BMA board.
The project will be located within the $1.3bn Bahrain Financial Harbour (BFH) complex currently being built along …