The economy of Bahrain is heavily dependent upon oil and gas. The Bahraini currency is the second-highest-valued currency unit in the world. Since the late 20th century, Bahrain has heavily invested in the banking and tourism sectors. The country's capital, Manama is home to many large financial structures. Bahrain's finance industry is very successful. In 2008, Bahrain was named the world's fastest growing financial center by the City of London's Global Financial Centres Index. Bahrain's banking and financial services sector, particularly Islamic banking, have benefited from the regional boom driven by demand for oil. Petroleum production is Bahrain's most exported product, accounting for 60% of export receipts, 70% of government revenues, and 11% of GDP. Aluminium production is the second most exported product, followed by finance and construction materials.
An investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services. Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket, Middle Market, and boutique market.
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises. Financial services companies are present in all economically developed geographic locations and tend to cluster in local, national, regional and international financial centers such as London, New York City, and Tokyo.
Mashreqbank PSC is the oldest privately owned bank in the United Arab Emirates. Founded as the Bank of Oman in 1967, Mashreq was the first UAE bank to install ATM cash dispensers, the first to issue debit and credit cards and the first to introduce consumer loans. Today Mashreq provides conventional and Islamic personal banking services including deposits, loans and credit cards; conventional and Islamic investment banking services including corporate finance and investment advisory on mergers and acquisitions, initial in public offering and underwriting; conventional and Islamic asset management services including wealth management.
The National Bank of Kuwait (NBK) is the first home-grown bank founded in 1952 and the first joint stock company in Kuwait and the Gulf Region. NBK is the largest financial institution in Kuwait with effective market dominance in the commercial banking market and has been consistently awarded the highest credit rating of all banks in the region from Moody's, Standard & Poor's, and Fitch Ratings. NBK also stands out in terms of its local and international network, which includes branches and subsidiaries in China, Geneva, London, Paris, New York, and Singapore alongside its regional presence in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE.
The main elements of Japan's financial system are much the same as those of other major industrialized nations: a commercial banking system, which accepts deposits, extends loans to businesses, and deals in foreign exchange; specialized government-owned financial institutions, which fund various sectors of the domestic economy; securities companies, which provide brokerage services, underwrite corporate and government securities, and deal in securities markets; capital markets, which offer the means to finance public and private debt and to sell residual corporate ownership; and money markets, which offer banks a source of liquidity and provide the Bank of Japan with a tool to implement monetary policy.
HSBC Bank Middle East Limited is the largest and most widely represented international bank in the Middle East. The bank has received several awards in various categories.
Arab Banking Corporation is an international bank with headquarters in the Diplomatic Area of Manama, in Bahrain. It was incorporated as a joint stock company in 1980 through a special decree by the Amir of Bahrain. It obtained an offshore banking unit licence from the Bahrain Monetary Agency on 7 April 1980, and began operations in the same month. The bank is listed on the Bahrain Bourse and its major shareholders are the Central Bank of Libya (59.37%) and Kuwait Investment Authority (40.63%). Its network spreads across 17 countries in the Middle East and North Africa (MENA), Europe, the Americas and Asia. It is expanding its retail banking network in the MENA region.
EFG Hermes Holding S.A.E. is an Egyptian investment bank present in the Middle East and North Africa (MENA) region and specializes in securities brokerage, asset management, investment banking, private equity and research. EFG Hermes serves a range of clients including sovereign wealth funds, endowments, corporations, financial institutions, high-net-worth clients and individual customers. EFG Hermes is listed on the Egyptian Exchange (EGX) and London (LSE) stock exchanges. EFG Hermes has offices in Egypt, the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Qatar, Oman, Kuwait, Jordan and Lebanon with over 800 people from 25 nationalities. They serve clients from the Middle East, North Africa, Europe and the United States. EFG Hermes owns a 63.7% majority stake in the Lebanese commercial bank, Credit Libanais.
Kuwait Finance House (KFH) was established in the State of Kuwait, in 1977, as the first bank operating in accordance with the Islamic Shari'a. KFH is listed in Kuwait Stock Exchange (KSE), with a market capitalization of $8.2 billion as of May 2016. Assets total $55.52 billion and deposits amount to $34.97 billion
British–Iraqi relations are foreign relations between Iraq and the United Kingdom.
Rafidain Bank is the largest bank in Iraq, with 165 branches inside Iraq and with branches in Cairo, Beirut, Abu Dhabi, Bahrain, Sana'a, Amman and Jabal Amman. Its HQ is in central Baghdad. The bank was established in 1941 and in the 1960s in a wave of Ba'ath nationalisation became a state bank. In 1988, the Rafidain's non-performing assets were carved out into the Rasheed Bank.
Iraqi Islamic Bank For Investment & Development is an Iraqi commercial bank, headquartered in Baghdad with 14 branches throughout Iraq.
GFH Financial Group, previously known as Gulf Finance House, is an Islamic investment bank with headquarters in Bahrain Financial Harbour, Bahrain.
United Overseas Bank Limited is a Singaporean multinational banking organisation headquartered in Singapore, with branches mostly found in most Southeast Asian countries. Founded in 1935 as United Chinese Bank (UCB) by Sarawak businessman Wee Kheng Chiang, the bank was set up together with a group of Chinese-born businessmen. The bank is the third largest bank in Southeast Asia by total assets.
Ahli United Bank is a regional bank based in Bahrain. Its head office is situated at Manama and is the largest bank in Bahrain. It is present in 8 countries in the Middle East and United Kingdom. Ahli United bank's ordinary shares are listed on Bahrain Stock Exchange since August 2000 and the Kuwait Stock Exchange since June 2006.
Citibank N.A., Kingdom of Bahrain commonly known as Citibank Bahrain, is a franchise subsidiary of Citigroup, a multinational financial services corporation headquartered in New York City, United States. Citi Bahrain is connected by a network spanning 98 markets across the world. Citibank Bahrain also serves as the regional phone support call center for Citibank United Arab Emirates and Bahrain retail banking clients.The markets operations hub for Middle East and North Africa is also based out of Citibank Bahrain.
