Venture capital issues were discussed at a key meeting in Bahrain yesterday (May 6).

The Waqf Fund held its eighth roundtable discussion on 'Venture Capital - Building the Next Phase of Economic Development in Bahrain' at the Central Bank of Bahrain (CBB) premises, said a report in the Gulf Daily News (GDN), our sister publication.

The half-day session was attended by a select group of 39 senior professionals including chief executives of Islamic banks, entrepreneurs, academics, Sharia scholars, CBB officials, the Accounting and Auditing Organisation for Islamic Financial Institutions, the General Council for Islamic Banks and Financial Institutions, audit and law firms.

The roundtable started with presentations from the CBB and Venture Capital Bank, outlining the concept and the reasons why venture capital industry is important to build to next the phase of economic growth in Bahrain and the wider GCC region.

The Bahrain experience in venture capital was also shared with the participants.

International Finance Corporation's Ralph Kietel informed the audience about the experiences, best practices and role models in this area.

Zawya founder Ihsan Jawad shared his experience as an entrepreneur and later as a venture capitalist. After the presentations the participants openly shared their views on the subject.

Participants said venture capital is an important industry that needs to be further developed in Bahrain and the GCC not only because of the financial returns but also due to the economic and social benefits it brings. - TradeArabia News Service