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Overview

Bahrain's development plans facilitate economic diversification
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Bahrain’s economy rebounded from the impact of the Covid-19 pandemic and more recently successfully avoided the worst of global inflationary pressure, largely due to the fact that its currency, the dinar, is pegged to the US dollar. Bahrain’s recovery was also aided by forward-thinking policy formulation. While the country faced economic headwinds following the global drop in oil prices in 2014,…

Overview

Digital payment innovation positions Bahrain as a fintech centre
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The financial services industry plays a crucial role in Bahrain’s economy, contributing 16.8% to GDP. Recognising the need to reduce the country’s dependence on oil, the government has prioritised the development of the sector. In order to strengthen the local economy and facilitate recovery from the Covid-19 pandemic, the government introduced the Economic Recovery Plan (ERP). The plan is centred…

Overview

Bahrain boosts diversification through tourism and financial technology
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The strategic location of the island country of Bahrain, combined with its business-friendly ecosystem and diversified economy, have seen it emerge in recent decades as an attractive destination for foreign investment. The kingdom’s economic resilience during the disruption that came with the Covid-19 pandemic, aided by stable governance and a commitment to economic reform, have positioned the country…
Interview

Mark Thomas, Group CEO, Bapco Energies: Interview
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Interview:Mark Thomas In what ways will the formulation of the National Energy Strategy reposition Bahrain’s market? MARK THOMAS: The National Energy Strategy is a government initiative that is being developed with shortand long-term approaches to the kingdom’s power supply. One of the primary goals is to diversify the energy supply, since Bahrain is dependent on domestic natural gas. As…
Interview

Sheikh Khalifa bin Ebrahim Al Khalifa, CEO, Bahrain Bourse (BHB): Interview
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Interview:Sheikh Khalifa bin Ebrahim Al Khalifa What are the main priorities when it comes to enhancing liquidity in the local capital markets? SHEIKH KHALIFA BIN EBRAHIM AL KHALIFA: In a bid to grow the region’s capital markets, in July 2022 the Tabadul Hub was created by BHB, the Abu Dhabi Securities Exchange and the Muscat Stock Exchange and launched. Our exchanges share the aim of creating…
Interview

Abdulla Sultan, CEO, Bahrain Kuwait Insurance Company (GIG Bahrain): Interview
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Interview:Abdulla Sultan How do you assess the main priorities for the sector as relates to the Financial Services Development Strategy 2022-26? ABDULLA SULTAN: Digitalisation is essential to remaining competitive in today’s fast-paced environment. Industry leaders are aware of the importance of digitalisation and are working towards bringing companies together to promote online channels. The…
Interview

Usman Ahmed, Group CEO, National Bank of Bahrain: Interview
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Interview:Usman Ahmed What are the immediate priorities for local banks to accelerate their sustainability strategies? USMAN AHMED: Financial institutions are vital to promoting sustainability in the economy. The integration of environmental, social and governance (ESG) frameworks into business and operational practices is relatively new for banks in Bahrain. That said, it is important that an…
Interview

Maha Mofeez, Chief Executive, The Labour Fund (Tamkeen): Interview
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Interview:Maha Mofeez What strategies and policies could be implemented to ensure that students and workers gain the skills required by the future labour market? MAHA MOFEEZ: Tamkeen’s strategy cycle for the years 2021-25 was developed to cater to the unique market requirements. It focuses on incentivising positive changes, such as enhancing productivity by enabling high-potential sectors,…
Interview

Yaser Alsharifi, CEO, Bahrain Islamic Bank (BisB): Interview
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Interview:Yaser Alsharifi Where do you see potential opportunities for Bahrain’s Islamic banking sector? YASER ALSHARIFI: Banking remains key to the financial services sector, with significant potential for growth. Although there has been a recent consolidation in the industry, it continues to be a vital driver of economic performance. The sector has been a key focus for the government and…
Interview

Hala Al Ansari, Secretary-General, Supreme Council for Women (SCW): Interview
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Interview:Hala Al Ansari To what extent are more flexible policies helping to reconcile business and social needs in Bahrain? HALA AL ANSARI: One of the key drivers for achieving both family stability and work-life balance is the implementation of flexible work policies, including the adoption of remote work practices. These measures have been found to significantly enhance productivity, efficiency…