Why Bahrain

Bahrain is not only the home of MEFTEC, it is also home to more than 400 financial institutions.

For more than 40 years, Business Friendly Bahrain has reigned as the undisputed financial capital of the Middle East. Banking is the cornerstone of Bahrain’s finance industry, and has diversified into all aspects of finance including funds, insurances, reinsurances, Islamic finance and capital markets.

Bahrain is a world leader in Islamic finance, currently hosting 30 Islamic banks and 11 Islamic insurance firms as well as key industry bodies such as AAOFI , CIBAFI and the International Islamic Financial Market.

Bahrain is also a major regional insurance and reinsurance center (both conventional and Islamic), and the first country in the GCC region to introduce captive insurance.

Several locally incorporated banks have either branches or subsidiaries in other countries throughout the Middle East, Far East, Africa, Europe and the USA. Overall, the total consolidated balance sheet of Bahrain’s banking sector stood at US$241.8 billion at the end of May 2009.

Bahrain’s position as an international financial centre is being reinforced by the establishment of the US$1.3 billion Bahrain Financial Harbour, billed as the Canary Wharf of the Gulf.