Having proudly produced corporate and financial reporting for top Middle Eastern companies and banks, many of them Bahrain-based, I read your news story First Islamic invests in Intergraphic (DW 27 September)Ã with interest.
Intergraphic claims that companies in the Middle East are not obliged to produce annual reports and do so only for marketing reasons, suggesting discreditable business practice. This is not the case. The Bahrain Stock Exchange (www.bahrainstock.com) clearly states that all listed companies must produce both annual and interim reports to shareholders.
I would also disagree with the comment that religion is often portrayed through Middle Eastern annual reports. However, I can see why Adam Knapp may be confused on this issue as his client is (as the name suggests) religious.
Given world events and sentiment towards the Arab world, I feel that it is prudent to set the record straight.
Williams and Phoa