Native name | United Gulf Bank B.S.C. |
|---|---|
| Industry | Financial services |
| Founded | 1980 |
| Headquarters | UGB Tower, Diplomatic Area, PO Box 5964, , |
| Website | www |
United Gulf Bank (UGB) is a commercial bank located in Manama, Bahrain, founded in 1980. [1]
UGB works under a wholesale banking licence from the Central Bank of Bahrain and is listed on the Bahrain Stock Exchange. From 1988 is a member of the Kuwait Projects Company Holding (KIPCO). [2]
The bank building, UGB Tower, designed by SOM, contains elements of the local architecture and energy saving features for the high-rise office buildings. [3]
The economy of Bahrain is heavily dependent upon oil and gas. The Bahraini Dinar 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 is Bahrain's most exported product, accounting for 60% of export receipts, 70% of government revenues, and 11% of GDP. Aluminium is the second most exported product, followed by finance and construction materials.
The Cooperation Council for the Arab States of the Gulf, also known as the Gulf Cooperation Council, is a regional, intergovernmental, political, and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The council's main headquarters is located in Riyadh, the capital of Saudi Arabia. The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.
Gulf Air is the flag carrier of Bahrain, which was founded in 1950 by British pilot Freddie Bosworth as Gulf Aviation. Headquartered in Muharraq, the airline operates scheduled flights to 61 destinations in 30 countries across Africa, Asia, and Europe. The airline's main hub is at Bahrain International Airport.
Bahrain International Airport is the international airport of Bahrain. Located on Muharraq Island, adjacent to the capital Manama and the city Al Muharraq, it serves as the hub for the national carrier Gulf Air. The airport is managed by the Bahrain Airport Company. Established in 1927, it is the Persian Gulf's oldest international airport.
Investcorp is a global manager of alternative investment products, for private and institutional clients. Founded in Bahrain in 1982, the firm has offices in United States, United Kingdom, Saudi Arabia, Qatar, United Arab Emirates, India, China, Japan, and Singapore. Investcorp's principal client base is in the six countries of the Gulf Cooperation Council, but it also has a growing base of institutional clients in North America, Europe, and Asia.
The dinar is the currency of Bahrain. It is divided into 1000 fils (فلس). The Bahraini dinar is abbreviated د.ب (Arabic) or BD (Latin). It is usually represented with three decimal places denoting the fils.
The King Fahd Causeway is a 25 km long series of bridges and causeways connecting Khobar, Saudi Arabia, and Al Jasra, Bahrain.
Kuwait Projects Company (Holding), known as KIPCO, is an investment holding company in the Middle East and North Africa (MENA) region, with consolidated assets of US$ 40.1 billion as of 31 December 2023. The group has significant ownership interests in a portfolio of over 60 companies operating across 24 countries. The group's main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.
The Bank of Bahrain and Kuwait (BBK) was established on 16 March 1971 in both the Kingdom of Bahrain and the State of Kuwait. Its shareholders consist of the public, the government of Bahrain, banks and investment companies in Kuwait. BBK engages in the provision of various services and banking products throughout its branches in Bahrain, Kuwait and India as well as its representative office in Dubai, United Arab Emirates.
The Arab states of the Persian Gulf or the Arab Gulf states refers to a group of Arab states bordering the Persian Gulf. There are seven member states of the Arab League in the region: Bahrain, Kuwait, Iraq, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Yemen is bound to the six countries of the Gulf Cooperation Council, based on history and culture.
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 rulings. 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
Bahrain Financial Harbour is a waterfront commercial development project located on the northern shore of Manama, the capital city of Bahrain. Costing $1.5 billion and covering an area of 380,000 square metres, the two main Harbour Towers were officially opened in May 2007. As a result of the Great Recession, the project suffered numerous delays for much of the next decade before construction finally resumed in 2016.
Bahrain, officially the Kingdom of Bahrain, is an island country in West Asia. It is situated on the Persian Gulf, and comprises a small archipelago made up of 50 natural islands and an additional 33 artificial islands, centered on Bahrain Island which makes up around 83 percent of the country's landmass. Bahrain is situated between Qatar and the northeastern coast of Saudi Arabia, to which it is connected by the King Fahd Causeway. The population of Bahrain is 1,501,635 as of May 14, 2023, based on elaborations of the United Nations data, of whom 712,362 are Bahraini nationals. Bahrain spans some 760 square kilometres (290 sq mi), and is the third-smallest nation in Asia after the Maldives and Singapore. The capital and largest city is Manama.
The Bank of Baghdad is one of the largest commercial banks in Iraq. It was established in 1992.
KAMCO Investment Company KSC (KAMCO) was established in 1998 as a subsidiary of United Gulf Bank (UGB) – the investment banking subsidiary of Kuwait Projects (Holding) Company, i.e., KIPCO and specialises in asset management and financial services in Kuwait and the Middle East and North Africa (MENA). Having increased its share capital from KD 15 million to KD 20 million in June 2003, KAMCO was listed on the Kuwait Stock Exchange (KSE) in October of the same year. KAMCO's current capital stands at KD 26.33 million distributed among 263.3 million shares with a par value of 100 fils each.
GFH Financial Group, previously known as Gulf Finance House, is an Islamic investment bank with headquarters in Bahrain Financial Harbour, Bahrain.
The American Mission Hospital is a 120 year old private not-for-profit hospital located in Manama, Bahrain.
The Qatar diplomatic crisis was a high-profile incident involving the deterioration of ties between Qatar and the Arab League between 2017 and 2021. It began when Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt simultaneously severed their bilateral relations with Qatar and subsequently banned Qatar-registered aircraft and Qatari ships from utilizing their sovereign territory by air, land, and sea; this involved the Saudis' closure of Qatar's only land crossing, initiating a de facto blockade of the country. Tensions between the two sides came to a close in January 2021, following a resolution between the Saudis and the Qataris.
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