Bahrain is home to one of the region’s most vibrant financial sectors, with financial services rivalling oil and gas in terms of economic importance. Indeed, by late 2021 the financial sector had overtaken hydrocarbons as the largest contributor to the economy. The Islamic finance sector is also strong, with Bahrain ranking fourth out of 135 countries and second in the MENA region in terms of...
The Middle East
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Chapter | Financial Services from The Report: Bahrain 2022
A wave of labour and regulatory reform is under way in Bahrain, as is an ambitious programme that aims to attract $30bn in investment in the tourism, transport, health, education, construction and real estate sectors. Meanwhile, the Fiscal Balance Programme launched in late 2018 has been updated – taking into account the Covid-19 pandemic’s impact – with a new target of balancing the budget by...
Chapter | Country Profile from The Report: Bahrain 2022
Bahrain has long taken a liberal approach to international trade and investment policy, which it conducts largely in line with its partners in the GCC, especially neighbouring Saudi Arabia. Historically, its closest foreign relations outside the region have been with the US and the UK. Initially built around the defence industry, these ties have expanded over the years to areas such as...
After weathering a series of global and regional challenges in recent years, Bahrain is emerging from the Covid-19 pandemic with strong growth, rising government revenue and a new plan for the future economy. As energy and tourism earnings recover, the kingdom aims to generate sustainable long-term growth opportunities through new sector strategies and transformational infrastructure projects.
What can local banks do to provide more support for economic diversification, and which sectors have the greatest potential to catalyse growth?
Economic update | Storage technology could elevate hydropower’s role in the global energy transition
1 Sep 2022
As the world strives to meet net-zero emissions goals amid geopolitical and supply chain disruptions that threaten energy imports, emerging markets are turning to hydropower investment and storage to facilitate their energy transitions.