Boosting economic integration among the Gulf states has been a key component of the GCC since the organisation was established in late May 1981. Indeed, while the six countries that make up the GCC – namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have implemented joint projects in a wide variety of sectors already, economic...
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...
In a speech delivered at a conference in Riyadh in early May 2012, Abdullatif bin Rashid Al Zayani, the secretary-general of the GCC addressed the numerous changes that have taken place in the region in recent years. “The new political, security and military challenges, at the regional and international levels, as well as insecurity in the Arab...
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...
Despite a number of notable uncertainties in the global economy, Bahrain’s economic outlook remains largely positive. It appears that the international economy will continue to be challenged by problems such as the sovereign debt crisis in the eurozone and fiscal disputes in the US throughout 2013.
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