BMIO relocates to Capital City |22 November 2010

BMIO is a joint venture between BMI Bank, Bahrain, and the local commercial bank Nouvobanq that was officially inaugurated by President James Michel in July 2008.

BMIO is licensed to offer solely offshore banking, covering transactions in foreign exchange with non-resident customers and structures that fall outside the local tax system.

Speaking on the move, Jamal Al-Hazeem, chief executive of the BMI Bank group based in Bahrain, said: “The move to this new location in town, where we will increase our visibility in the eyes of the local community, underlines the commitment of the BMI group to doing business in Seychelles.
 
“Going forward, we will work with all stakeholders to ensure that we make the most of business opportunities in a way that is best for BMIO and best for the country.”      

Frank Hoareau, managing director of the bank, added: “Our privileged location on Eden Island provided us with a unique and tranquil working environment to successfully kickstart the operation.

“However, two years on, we feel it is time for us to move to a location that is closer to our business partners and one that offers more office space to cater for future business growth. We believe that there is no better place than the town area to showcase our brand to the general public.

“Over the last two years we have built a strong customer base, with our staff gaining the necessary experience to capitalise on the many exciting opportunities and take the business forward in a very tough international marketplace.
 
“Our move to the new premises in many ways signals the start of a new era for the business, one where we will increase our contribution to the prosperity of the country and to all our stakeholders.”