On building a regulatory framework and consumer awareness to support growth How are insurance companies in Bahrain adapting to emerging market segments and evolving demand patterns? MOJALI: In 2023 Bahrain’s insurance market saw significant growth, a trend that we are predicting will continue in 2024. This trend is primarily driven by two key factors: the increase in investment activity…
In this Global Platform video, Abdulaziz Bin Abdulrahman Al Helaissi, Group CEO and Member of the Board, Gulf International Bank (GIB), talks about Bahrain’s banking sector, a significant contributor to GDP at 17%, and why it serves as a strategic centre for trade finance and asset management in the GCC region. With a progressive regulatory environment, the country has embraced financial technology,
The Middle East Investor Relations Association (MEIRA) Annual Conference and Awards is the largest IR event in MENA. This benchmark event brings together participants from locally listed firms, international corporates, investors, research analysts and advisors, as well as representatives of the region's regulatory bodies. The aim of the conference is to provide delegates with a networking platform…
On the importance of creating a conducive regulatory framework to foster an investment-friendly environment Which developments in the global crypto-asset market are shaping investment opportunities for exchange firms in Bahrain? MOHAMED KHALID ATEEQ: One of the most significant developments is the growing demand for compliant and regulated crypto-asset firms. This has led investors to seek…
Policy interventions and an investor-friendly regulatory environment continue to attract investors to Bahrain as both a place to establish a business, and as a gateway through which to enter the markets of the broader GCC and MENA regions. A more strategic and sustainable funding model has been adopted by the government, and this shift in approach is beginning to be reflected in the fiscal balance
The GCC saw a rise in initial public offerings (IPOs) in 2022 despite volatility in secondary markets, surpassing the previous year’s record high. The total number of IPOs in the region increased from 20 in 2021 to 48 in 2022, marking a 140% rise, and proceeds from GCC issuers increased by 211% from $7.5bn to almost $23bn over the same period. The growing number of successful IPOs in the region has…
Insurance companies worldwide have been preparing for the most significant change in global accounting standards in almost two decades. On January 1, 2023 the International Financial Reporting Standard (IFRS) 17 came into effect. Replacing the previous standard, IFRS 4, which was issued in 2004, IFRS 17 aims to standardise insurance accounting globally through a uniform approach in order to improve…
Bahrain is the seventh-largest Islamic finance market globally, with $41.6bn in total assets at the end of 2022. It has the largest concentration of Islamic financial institutions in the Middle East, comprising 38.3% of domestic banking system assets over the same period. The Islamic banking segment experienced a 7.6% increase in assets during 2022, surpassing the 2% growth observed among conventional…
As GCC countries look to harness new forms of financial technology (fintech), expand their services and improve financial inclusion, governments are embracing decentralised finance (DeFi) and working to attract cryptocurrency companies. DeFi – peer-to-peer financial services with no central authority or intermediary involved in trading, lending and investing – is seen by GCC countries as an opportunity…
Bahrain’s capital markets are being revitalised as the kingdom and the broader Middle East emerge from the Covid-19 pandemic-induced downturn. New regulations, partnerships with neighbouring countries and a national plan to boost the economy are all set to help drive growth in capital markets. Structure & Oversight The Central Bank of Bahrain (CBB) is the single regulator of securities trading…
