www.moneytransferinternational.org/?pageID=18&subpageID -
[Cached Version]
Published on: 7/7/2009
Last Visited: 7/7/2009
Premal is Executive Director of Veritas Investments WLL a multi-disciplined, strategic partnership advisory company based in the Kingdom of Bahrain.
His organisation works closely with the Bahrain Economic Development Board to encourage businesses to consider Bahrain as a place to do business in the Middle East.
Veritas Investments is engaged in strategic financial services and premium brand marketing consultancy; media managment; communications development; property; training & development and lifestyle services.
Premal was previously Senior Director Marketing for American Express (Middle East & North Africa) where his remit spanned across the following marketing disciplines : Consumer & Corporate Marketing, Market Research, Co-branding, Product Development, Card Acquisition, Premium & Credit Products, Public Relations and Corporate Communications in 18 markets in the Middle East, North Africa, and Levant - Launching a new Product Line Strategy, new Brand Strategy and the introduction of the renowned Centurion Card in 8 markets simultaneously were just some of his business successes.
Between 2003-2005 he was Executive Vice President of Bates PanGulf (a Communications Services Agency) and Chief Operating Officer of Premier Sponsorship Marketing (PSM) based in Dubai.
Prior to this he held the role of Head of Marketing, Visa International Middle East & Levant and Senior Communications Manager Riyad Bank, Saudi Arabia.
Prem graduated from Kingston University, Surrey and began his career in 1993 at NatWest Bank where he was selected to join their highly-acclaimed Graduate Management Development Programme.
He also went on to achieve the MCIM and MDIM qualifications.
Whilst in the UK both Prem and his wife (Minal Patel) established a family owned marketing/market research consultancy business.
As Director his main responsibility was business development and business strategy, advisory and consultation.
He is recognised as a thought leader in Cards Marketing and Product Development, the luxury brand space and a specialist in business & marketing strategy, business development, affinity/partnership marketing, brand development, marketing communications, new product development & product management, consumer loyalty programs, card payments and retail banking.
He has over 16 years of multinational experience primarily gained in the Financial Services arena.
...
Left to right: Nader Al Ghanem, Al Bilad Press; Premal Patel, Director, MTI Middle East; Abbas Salman, Alwasat News
...
According to MTI's regional director, and head of the Bahrain chapter, Premal Patel, the region stands as one of the top five performers of the global remittance industry which is pegged at US$550 billion in 2008.
Patel said that a 63 percent increase has been witnessed since 2003.
"Remittance flow from GCC countries alone accounted for 35.6% of total remittance flow to developing countries in 2008, with more than 63 percent and 52 percent respectively going to Bangladesh and Pakistan*," he said.
Citing a recent World Bank report, he shared that remittance flows to developing countries reached $283 billion in 2008.
"However, the actual market size is estimated to be more than double of the official figure," said Patel.