Bahrain Report

Fawzi Ahmed Kanoo, Deputy Chairman of Yusuf Bin Ahmed Kanoo Bahrain, makes a profoundly important case for family business in Bahrain and outlines the future perspectives. 

Kanoo believes that the future of any family business lies in having good business partners. He further argues that "some family companies bring in outsiders to be on the board but that's not enough."

"You also have to sell part of the company, first of all to gain experience and to find your company on the stock exchange which will make the company big outside the Gulf area. I think the future for big companies like us and others is to sell part of the company."

"There are already some families in the Gulf who went IPO and they have made this transition successfully and smoothly. The majority of the shares stayed with the family and the balance goes to the public," he adds.