BAHRAIN

Overview
Bahrain is regarded as the fastest growing economy within the GCC and experienced a GDP growth rate of over 3.9% in 2017, up from 3.2% in the previous year.The country continues to register robust growth driven by strong performance of the non-oil sectors. Diversification efforts over the past few decades have been the key driver of growth for the private sector. 
1.4
million
3.9%
real GDP growth
760
sq km
Bahrain's Financial Landscape (2018)
Bahrain is home to the highest number of licensed financial institutions in the region with a mix of around 400 domestic, regional, and international institutions. The future prospects for the financial services industry are highly promising with Bahrain’s position as a financial hub for over 40 years.
125
Banking
Firms
59
Investment
Firms
144
Insurance
Firms
53
Specialised
Licensees
16
Capital Market
Firms
Key developments including the launch of the CBB’s dedicated FinTech and Innovation Unit and Regulatory Sandbox highlight the growing market demand and interest in Bahrain for FinTech solutions. Moving into the digital age of financial products and services is imperative as incorporating FinTech into the financial services industry of Bahrain will be a key growth driver.
Increasing consumer demand for an improved banking experience has led to the need for FinTech solutions in Bahrain. Modern digital banking is the logical step for the banking industry considering; increasing smartphone usage in Bahrain with roughly 3 million  mobile subscribers (18% YoY growth) and redundancy of conventional payment channels.
Financial Inclusion in Bahrain (2018)
Bahrain is regarded as the fastest growing economy within the GCC and experienced a GDP growth rate of over 3.9% in 2017, up from 3.2% in the previous year.The country continues to register robust growth driven by strong performance of the non-oil sectors. Diversification efforts over the past few decades have been the key driver of growth for the private sector. 
99.4%
with Debit Cards
19.7%
with Credit Cards
17.5%
with Current
Account
63.2%
with Savings Accounts
43.7%
with e-Banking
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2125 Broadway

Redwood City

California 94063

USA

North America

Office

 

Middle East

Office

Arcapita, Bahrain Bay

3rd Floor
P.O. Box 11299
Manama, Bahrain

Singapore

Office

5 Shenton Way

UIC, #10-01

P.O. Box 068808
Singapore

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