Sarasin-Alpen (Bahrain), the newly created entity of the Switzerland-based Sarasin Group, has received an Investment Business Firm Category 2 license from the Central Bank of Bahrain (CBB) to offer advisory services to wealthy private clients.

Sarasin-Alpen, a joint venture between Bank Sarasin-Alpen (ME) of Dubai and Sarasin and Partners of London, two of the international subsidiaries of Bank Sarasin Basel, Switzerland, will now establish its office in Bahrain.

Central Bank of Bahrain Licensing and Policy director Ahmed Al-Bassam said that despite the prevailing international market conditions, there is still demand for investment services from professional advisers. The future of Bahrain, the GCC and the Middle East region economies is very promising.

Bank Sarasin CEO Joachim Straehle said the Middle East is one of three key regions on which they are focusing hopes for the future. The pervasive dynamism of the region offers an attractive growth potential that will enable the firm to press ahead with its geographic diversification.