Bahraini-Iraqi $ 5 million holding company underway

The establishment of a Bahraini-Iraqi holding company, with $ 5 million initial (starting) capital which could be increased in future, has been considered by the Bahraini-Iraqi Joint Business Council, according to the Council's Chairman, Khalaf Hjair.

Also investors were invited from both sides to contribute into the proposed holding company. He said Bahraini real estate investments in Iraq amount to BD 100 million in addition to other investments in restaurants and cars.

An Iraqi delegation is slated to visit Bahrain in November to attend the Bahraini-Iraqi Business Council and review potential investment opportunities to boost cooperation ties between the two sides and find solutions for obstacles at both ends.

During the meeting, the Chairman of Arabian Business Consultancy firm and member of the Bahraini side in the Bahraini-Iraqi Business Council, Taqi al-Zeera, outlined the key obstacles facing Bahraini investor in Iraq alluding to the security conditions and hurdles of money transfer and infrastructure problems.

Dr. Taqi Al-Zeerah called for essential intensification of consultation meetings with traders and bankers and the exchange of expertise and capabilities in the Bahraini banking sector and benefiting the Iraqi side from the Bahraini pioneering experience in this field. He noted the importance of compiling lists of potential investors between the two sides and another list of promising investment opportunities in both countries.

Caption:Khalaf Hjair

Photo: BNA