Video: Bermuda on BBC’s Middle East Report
Bermuda is a viable and attractive alternative to financial hubs in the Middle East for Islamic investors.
In an interview with the BBC’s “Middle East Business Report” during her recent tour of the Gulf States, Business Bermuda CEO Cheryl Packwood said the island’s investment and wealth-management sectors had long-since introduced investment funds consistent with the principles of Islamic law.
“We have had investment for this region going back decades,” said Ms Packwood. “We are here to work in conjunction, in collaboration, with the financial centres of this region. We are the alternative when you decide to leave this region and want to create wealth internationally.”
Ms Packwood led a Bermuda delegation to the Middle East earlier this month. Along with representatives from its member companies PriceWaterhouseCoopers, Apex Fund Services & Conyers Dill & Pearman, the Business Bermuda CEO attended the fourth annual Fund Forum Middle East Conference in Bahrain from October 3-6.
During the conference, Ms. Packwood participated as the chair of a round table on offshore financial centres, making the case for Bermuda’s leadership on global regulation and tax issues as well as the strength of its underlying economy, which is particularly attractive for international business and Islamic finance.
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