- The Bahrain-based service centre marks a new milestone for the Kingdom’s financial services sector
- The new centre anticipates 250 new job opportunities for Bahrainis
PwC Middle East, is set to establish a new service delivery centre in Manama, Bahrain during the first quarter of 2024. The service centre will offer strategic compliance and advisory services to a wide range of global institutions. In line with PwC Middle East’s objective to expand its market presence regionally, this new centre will strengthen PwC’s global network of 328,000 people working in 152 firms around the world. Located at the heart of the Gulf and providing an accessible gateway into Saudi Arabia, Bahrain is strategically placed to facilitate the regional success of the new service centre.
As a leading global firm, specialising in taxation, legal, deals, assurance (audit) and consultancy services, the new delivery centre will continue supporting its diverse client portfolio, comprising of the public sector, financial institutions, healthcare providers, manufacturers, Telco providers, and more from its Bahrain office.
Leveraging on its established international strategies as an extension of its capabilities from its global network, PwC Middle East anticipates 50 new job opportunities for Bahrainis for the launch, with an overall operational target of 250 for the centre. The regional service centre in Bahrain will be working closely with the other centres in the region, with initial plans already in place to serve the region’s client base.
Hani Ashkar, Middle East Senior Partner at PwC Middle East, said, “Beyond its competitive operating costs and strategic location providing facilitated access to serve the region, Bahrain’s highly talented bi-lingual workforce is an undeniable asset against the backdrop of a growing economy that is witnessing impressive and consistent growth.”
He added: “We are a community of solvers combining human ingenuity, expertise, technology and innovation to deliver sustained outcomes.”
His Excellency Khalid Humaidan, Chief Executive at the Bahrain Economic Development Board, added, “PwC’s decision to establish its regional service centre in Bahrain is a testament to the Kingdom’s thriving financial ecosystem. Over the years, Bahrain has built solid financial foundations that today enable the efficient delivery of established business services. Owing to a world-class infrastructure and a talented workforce that merges local insight with global perspectives, Bahrain continues to create global success stories and support the expansion plans of leading industry players. We look forward to supporting PwC’s latest initiative throughout their investment journey.”
In line with the Economic Recovery Plan (ERP, 2021) which aims to develop Bahrain’s economy with a focus on strategic high-impact sectors, the regional hub is set to emerge as an influential contributor to diversification efforts. Recently overtaking the oil and gas industry as the highest contributor to GDP growth at 17.5% as of 2022, Bahrain’s financial services sector continues to showcase steady growth and is home to a balanced portfolio of leading local, regional, and global financial institutions.