Bahrain pioneered oil production in the Middle East beginning in the 1930s, establishing the region’s initial framework for the petroleum industry. Some 90 years later oil and gas operations comprise 18% of GDP, with the economy well diversified to host established financial services and industrial sectors, as well as unique tourism offerings.
– Economies in the region were hit by reduced trade volumes and lower oil prices
– Governments launched extensive stimulus packages to stabilise their economies
– Short-term recovery will be tied to oil prices and the resumption of travel
– The pandemic looks set to accelerate economic diversification efforts
Bahrain Bourse recently established the Murabaha service based on sukuk (Islamic bonds), in collaboration with the Central Bank of Bahrain (CBB). To what extent will this collaboration facilitate sharia-compliant asset management going forwards?
As countries within the Gulf begin a gradual easing of Covid-19-related movement restrictions, the revival of the region’s aviation sector has come into focus. Effective recovery strategies will rely on reassuring passengers that sufficient health and the safety measures are in place.
One of the first countries in the region to register cases of Covid-19, Bahrain has harnessed digital solutions to implement a robust medical response to the pandemic.
The implementation of social distancing measures in Bahrain has resulted in a widespread uptake of e-learning solutions, in order to minimise disruption to educational programmes.
Simultaneously strengthening its industrial potential and its foreign commercial ties, Bahrain has signed a series of deals with Italian firms in the energy and manufacturing sectors.
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