After a resilient performance in 2020, the international Islamic finance sector fared positively in 2021 as an improved economic environment, a rise in the number of large projects, and an increased focus on environmental, social and governance (ESG) factors combined to drive demand for services.
Bahrain has laid the foundation for strong growth in its financial technology (fintech) companies and ecosystem and is pursuing a two-fold strategy to expand the industry in the years ahead. The first prong aims to leverage fintech to facilitate integration of domestic payments infrastructure and improve links between retail banks, merchants and service providers. The second...
The insurance sector is set to undergo a series of reforms under the government’s Financial Services Development Strategy (FSDS) 2022-26, announced at the end of 2021 and developed in line with the broader Bahrain Economic Vision 2030 to stimulate growth over the course of the decade.
Two of the biggest trends in global insurance in recent years are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as insurtech, a potentially disruptive trend that heralds both threats to and opportunities for incumbents and newcomers alike. While...
The performance of Bahrain’s insurance sector has reflected national macroeconomic trends in recent years, with premium growth remaining sluggish and, in some cases, declining, even as listed companies’ bottom lines recorded notable growth. Motor and medical insurance dominate the industry, and the recent promulgation of a national health...
As both a regional and global leader in Islamic finance, Bahrain benefits from supportive regulation, capable human resources, and a reputation for diversified and mature offerings. Demonstrating this, the Islamic banking and insurance segments have recorded elevated growth rates compared to their conventional counterparts in recent years,...
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