In line with the kingdom’s reputation as a financial centre, Bahrain’s insurance sector has a large number of companies and a varied array of business models. Some insurers domiciled there serve only the regional market in addition to the more conventional in-country model. In the past several decades Manama has been the chosen home base for several...
Bahrain is among the world’s focal points for Islamic finance and sukuk, a sharia-compliant bond, which has been among the most important and visible Islamic instruments worldwide. The outlook for sukuk markets was increasingly positive in early 2013, as the asset class distanced itself from the 2007-08 global financial crisis. The upswing in...
Even after half a decade of challenges – first from the global financial crisis and later from regional and internal instability – few doubts remain about the resilience of Bahrain’s banking sector. The country’s traditional role as a financial hub means the industry is robust and varied. There are banks that perform basic banking functions, such as...
Credit to small and medium-sized enterprises (SMEs) is likely to be a key focus for the banking sector in 2013. This segment of the lending market is an opportunity to tap what Bahraini leaders believe is an underserved segment, while addressing the long-term priorities of the country and its economic agenda. SMEs are considered an important part of...
Within the realm of financial services in Bahrain, most of the attention in recent years has been on the wholesale sector, where the internationally focused nature of the business left banks relatively more exposed to the effects of the global financial crisis. In contrast, retail banks in Bahrain have been steady, continuing to serve their...
In regional terms, Bahrain’s history as an insurance centre is a long one. The domestic insurance sector began to form in the 1950s, when a group of taxi drivers pooled resources to form the nation’s first mutual company in order to abide by a legal requirement to obtain third-party liability insurance cover for their vehicles. That decade also saw...
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