January 31, 2009
The Wall Street Organization WLL, a international firm specialising in the marketing of capital formation for standard and securities transactions within the Middle East, has announced the opening of its Middle East headquarters, in Bahrain Financial Harbour.
Wall Street president Stephen Cole, commenting on the decision to launch the ME base in the premier financial district BFH, said businesses within the Middle East have traditionally depended heavily on bank finance for their start-up and expansion needs.
'Commercial loans account for around 70 per cent of their funding requirements. But experience has shown that commercial loans are often an inefficient, high cost and illiquid method of finance.'
'There is a large and growing demand for the more efficient and more sophisticated forms of financing that the international capital markets can provide. Companies that aspire to world-class performance require a world-class international financial company to support them,' he noted.
According to Cole, there are a number of factors pointing to an increase in the use of capital markets by companies, financial institutions and governments in the region.
'These include the increasing need for IPOs and secondary offerings by growth companies within the Middle East region, the program of multiple privatizations (notably in telecom and power sectors) enabling governments to release capital from state-owned assets and giving impetus to deregulation and market liberalization throughout the region,' he pointed out.
Dr Farid Alshabbar, Middle East Operations director of The Wall Street Organization WLL, stated the company will be utilizing innovative marketing strategies and techniques for the funding of its Middle East clients’ transactions.
'We are very much encouraged to offer our professional marketing services to businesses in both Bahrain and throughout the Middle East region,' he added.
Salwan Uchi, Leasing and Marketing director of Bahrain Financial Harbour Holding Company said, 'We are, indeed, thrilled that an organization with such an impressive lineage has opted to launch its Middle East operations from Bahrain Financial Harbour and are happy to assist it in its endeavors.'
'This $3 billion self contained financial city and residential community is the ideal location for a high-profile international financial marketing company seeking to establish its presence in the cash-rich capital markets of the Middle East.'
'Being a completely connected set-up with world class integrated technological systems, BFH provides a safe and friendly work environment that is geared to meeting the complex infrastructural and communication needs of financial and commercial entities like WSOWLL,' Uchi added.