Bahrain has always been one of the more connected centres of the Gulf. It has been a vibrant entrepôt for millennia, boasting a maritime history dating back to the commercial traffic that once plied the waters between ancient Mesopotamia and the civilizations of the Indus valley. Its geographic location has resulted in a particularly close...
The region’s exchanges have operated in adverse economic conditions since the decline of oil prices began in the second half of 2014, and the Bahrain Bourse (BHB) is no exception. However, the apparent stabilisation of global oil prices in 2016 has brought a similar firming of the main index and, after a year of shrinking stock prices, some...
The global Islamic finance industry is a rapidly growing but relatively new phenomenon, and therefore the approach of national regulators varies from one jurisdiction to the next. Almost all regulatory frameworks, however, fall within two broad models: a centralised system, with some form of higher sharia authority to pronounce upon regulatory...
A combination of factors has led to a rise in bond issuance from GCC members in 2016. Across the year, bonds and sukuk (Islamic bonds) issued in the GCC hit $66.5bn, more than doubling the $27.6bn total issued in 2015, and rivalled only by the $60.9bn issued during 2009. A $17.5bn historic bond sale from Saudi Arabia accounted...
Economic diversification has been a strategic priority for GCC finance ministries for decades, and the recent decline in oil prices has only served to underscore the importance of hydrocarbons-driven economies reducing their dependence on oil and gas to ensure their long-term economic stability. Much of the momentum behind this process in the...
Real estate investment trusts (REITs) are popular investment instruments in developed markets, but a relatively new phenomenon in GCC exchanges. Nasdaq Dubai became the first exchange in the region to list a REIT in 2014, and in January 2016 Saudi Arabia’s market regulator approved the listing rules that will govern the instruments in the...
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