Investcorp, a Bahrain-based the asset management firm, will sponsor the 'Banks in Bahrain' reception to be held on October 6 to 7 in Istanbul, Turkey in conjunction with the annual meetings of IMF and the World Bank Group.

The 'Banks in Bahrain' reception is hosted by the Bahrain Association of Banks. It will highlight the progress and development of Bahrain's banking sector to the top global financial and business leaders and policymakers who will be present in Istanbul.

Nemir A. Kirdar, Investcorp executive chairman and CEO said: 'The turmoil currently faced by the world economy and financial markets emphasizes the importance of the Annual Meetings this year. The gathering at this reception constitutes a great opportunity to exchange ideas on how to meet the current challenges and ensure a sustainable recovery.'

'The reception will also showcase the successful achievements of the banking sector in Bahrain and highlight the Kingdom’s unique position as the premier financial focal point of the energy exporting centre of the world.'

Founded in 1982, Investcorp has enjoyed a track record of consistent innovation and performance, having arranged investments with a combined value of approximately $41 billion.

The company has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography, and currently has approximately $12 billion in invested assets under management.

Investcorp was conceived as, and remains, a firm that is global in its outlook, attitude and culture. It operates out of three centers: Bahrain, London and New York, and has five lines of business: private equity, hedge funds, real estate, technology investment and Gulf Growth Capital.

The annual meetings of the IMF and the World Bank Group provide a forum for international cooperation and discussion of issues related to poverty reduction, the world economic outlook, effective aid, and economic development.

The meetings are also a forum for policymakers to meet with civil society organizations and the private sector. It is expected to attract more than 13,000 participants from around the world.-TradeArabia News Service