For a country with a population of 1.2m, Bahrain has a complex banking landscape with 104 institutions holding licences as of March 2014. There are 80 conventional banks, including 22 conventional retail banks, and 24 Islamic banks, of which six are retail banks. The Central Bank of Bahrain (CBB) has been urging greater consolidation across all...
Financial Services
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Articles & Analysis | Mergers and acquisitions reshape Bahrain's banking sector from The Report: Bahrain 2015
Articles & Analysis | Experts discuss Bahrain's banking sector from The Report: Bahrain 2015
Despite being synonymous with financial expertise for more than 40 years, Bahrain is not resting on its laurels, and it faces stiff competition from growing regional centres like Abu Dhabi, Dubai, Doha and Riyadh. Bahrain climbed 12 places in the 15th Global Financial Centres Index (GFCI) published by Z/Yen Group in March 2014. But its recent...
Chapter | Islamic Financial Services from The Report: Bahrain 2015
Bahrain remains a world leader in Islamic finance, boasting the highest concentration of Islamic financial institutions globally, with six licensed Islamic retail banks and 18 licensed Islamic wholesale banks. Islamic wholesale banks’ investment portfolios have begun to demonstrate promising diversification in recent times, with a shift away from risky real estate fuelling interest in other...
Despite being buffeted by successive financial storms since 2008, Bahrain’s banking sector has remained resilient and in February 2014 the Central Bank of Bahrain’s (CBB) “Financial Stability Report” showed many areas of strength and renewed vigour. In 2014 the finance and banking sector accounted for nearly 17% of GDP, according to the CBB, making it the second-largest contributor after the...
As the region faces up to the challenge of the recent drop in oil prices, Bahrain’s fundamentals indicate the kingdom is well positioned to weather the dip. The focus on diversification goals outlined in Economic Vision 2030 is helping establish a more competitive and sustainable economy in the kingdom. The financial sector, which represents Bahrain’s second-largest GDP contributor, has continued to recover robustly since the global economic downturn.
Rising domestic demand should drive growth in Malaysia’s insurance sector this year, despite economic headwinds, but the highly competitive market could see a further round of mergers as larger operators consolidate their position.