American Express, Premium Cards for the Middle East & North Africa

American Express,
   Premium Cards
for the Middle East &
     North Africa

An interview with:
                         Mazin Khoury
                         Vice President, AMEX (Middle East) B.S.C.(c)
                         Mazin joined the company in 1989; he is 41 years young,
                         happily married and a proud father of two children.

      W
              hen American Express first established its headquarters
              for the Middle East and North Africa (MENA) in
      Bahrain in 1979, the Kingdom’s skilled workforce and robust
      telecommunications infrastructure stood out as its primary
      attractions. The same advantages still hold true today.
            From a practical point of view, these two attributes were
      essential for a card company operating a regional call centre.
      Almost as importantly, the company also regarded Bahrain as a
      natural gateway to the region.
            “Bahrain has made a virtue out of the fact it is not blessed
      with large quantities of natural resources,” explains Mazin Khoury,
      Vice President, Middle East & North Africa. “It has needed to
                                      be cleverer than neighbouring
“Bahrain has needed to be countries, which is why its skilled
cleverer than neighbouring workforce is one of its greatest
countries, which is why its assets. American Express’s MENA
skilled workforce is one of business – which is a 50/50 joint
    its greatest assets”              venture between American Express
                                      and Saudi Arabia-based Mawarid
      Investment Limited – services 18 countries from its state-of-the-art
      Bahrain operating centre. Thirty years ago, when it opened its
      regional headquarters, Khoury says Bahrain was the only choice.
      Today, although there are more alternatives within the region, he
      still maintains that Bahrain is the ideal base for the business.

High standards of education
With the majority of American Express’s regional customers
based outside Bahrain, the professionalism and skill of its
employees along with their
English language abilities is          “But this is also a safe,
essential. More than 70% of        stable business environment.
the 300-strong local workforce        The authorities are very
are Bahrainis. According to          friendly to businesses and
Khoury, who has worked for               the risk of operating
American Express since 1989:        a business is exceptionally
“The standard of employees far                 low here.”
exceeds the quality of 10 -15
years ago. Just about everyone speaks English, and the country
has made great improvements in education. You will find that
99% of our local employees are educated in Bahrain.”

Sophisticated
infrastructure
The telecommunications and
technology infrastructure is
“fundamental and core” to
our business, explains Khoury,
if American Express is to
provide a premium service
to the business people and
upmarket tourists that use its cards.
“The telecommunications infrastructure
is sophisticated and reliable here in
Bahrain,” Khoury says. “In fact it’s very
advanced.”

Free market, business friendly environment
From a legal and regulatory perspective, the company regards
Bahrain as highly supportive. “Bahrain is very well governed,
with an excellent regulatory environment.” There is no corporate
income tax, funds can be moved freely in and out of the country
and the Central Bank of Bahrain (CBB) has always been helpful.
Indeed, the CBB has even supported American Express
when establishing businesses in other countries within the
MENA region.
    “The business environment here is very favourable. Here
we have free and unrestricted movement of capital, which is not
usual. Bahrain is a very safe place to operate a business – with
                       a stable political environment and low
                       economic risk.”

                      “A home away from home”
                      Finally, Khoury observes that American
                      Express’s expatriate staff thoroughly enjoy
                      their time in Bahrain. “Our expats say this
                      is a home away from home,” he says. “It
                      is very friendly, has an excellent standard
                      of living, modern infrastructure, good
                      schools and provides a safe, nurturing
                      place for families.”

Reasons for Bahrain
Skilled workforce
Sophisticated telecommunications and IT infrastructure
Reliable business environment
Excellent environment for families

About American Express
American Express Company is
a world leader in Charge and
Credit Cards, travellers cheques,
travel, financial planning,
business services, insurance and
international banking. American
Express Middle East & North Africa
established its presence in the
Middle East in 1959 and set up
its first office in Bahrain in 1979.
In 1992, it became a joint venture
company, owned by Mawarid
Investment Limited and
American Express.

About Bahrain
Bahrain has earned the reputation
as the leading financial services
hub in the Gulf, being the largest
(400+ licensed financial institutions)
and most established (nearly four
decades of experience) with a track
record across a wide range of areas,
from fund management to Islamic
finance. Crucially, the Central Bank
of Bahrain is widely considered
to be the best in the Middle East,
combining business-friendly,
international standards of regulation
with effective supervision.

CONTACT
To find out how the Bahrain Economic
Development Board can help you set up and
support your business long-term, contact:
The Business Development Department
+973 1758 9969
invest@bahrain.com
www.bahrain.com
Office Hours:
Sunday-Wednesday 8am-5pm
Thursday 8am-2pm (GMT +3hrs)