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, 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 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 is the second most exported product, followed by finance and construction materials.
The Cooperation Council for the Arab States of the Gulf, originally known as the Gulf Cooperation Council, is a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - except Iraq. The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.
Gulf Air is a state-owned airline and the flag carrier of the Kingdom of Bahrain. Headquartered in Muharraq, the airline operates scheduled flights to 52 destinations in 28 countries across Africa, Asia, and Europe. Its main hub is Bahrain International Airport. Gulf Air is the sponsor of the Bahrain Grand Prix and Bahrain International Airshow, where some of its fleet of aircraft sport liveries of the event. It was formerly a multinational airline owned by Bahrain, Abu Dhabi, Oman, and Qatar.
Bahrain International Airport is the international airport of Bahrain. Located on Muharraq Island, adjacent to the capital Manama, 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 Gulf's oldest international airport. The airport is currently undergoing a $1.1 billion expansion that will boost the airport's passenger capacity to 14 million per year by 2020. Gulf Air accounts for 67% of all weekly passenger flights to the airport.
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.
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$34.2 billion as of 31 December 2018. 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 Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Kuwait, Iraq, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE), All Gulf states are located in the Arabian Peninsula except for Iraq. All of these states except Iraq are part of the Gulf Cooperation Council (GCC), and prefer to use the term "Arabian Gulf" rather than the historical name of the Persian Gulf.
The Bahrain Bourse, also called the Bahrain Stock Exchange (BSE), is the stock exchange of Bahrain. As at 2017, 42 companies were listed on the exchange. The exchange operates from Sunday to Thursday. Three indices track the Bahrain Bourse (BHB): the Bahrain All Share Index, the Dow Jones Bahrain Index and the Estirad Index.
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
The following outline is provided as an overview of and topical guide to Bahrain:
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 a country in the Persian Gulf. The island nation comprises a small archipelago made up of 51 natural islands and an additional 33 artificial islands, centered around Bahrain Island which makes up around 83 percent of the country's landmass. The country is situated between the Qatari peninsula and the north eastern coast of Saudi Arabia to which it is connected by the 25-kilometre (16 mi) King Fahd Causeway. According to the 2010 census, Bahrain's population is over 1.2 million, of which around half are non-nationals. At 780 square kilometres (300 sq mi) in size, it 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.
LuLu Group International is an Indian-owned multinational conglomerate company that operates a chain of hypermarkets and retail companies, headquartered in Abu Dhabi, United Arab Emirates. It was founded in 2000 by M. A. Yusuff Ali who hails from Nattika, Thrissur district in Kerala, India. LuLu Group International mainly operates the international chain of hypermarkets named "Lulu Hypermarket". LuLu has over 57, 000 employees of various nationalities.
GFH Financial Group, previously known as Gulf Finance House, is an Islamic investment bank with headquarters in Bahrain Financial Harbour, Bahrain.
Bahrain Bay is located on the main island of Bahrain and 6.8 kilometres from Bahrain International Airport.
Visitors to Bahrain must obtain a visa in advance unless they come from one of the visa exempt countries or countries eligible for visa on arrival. Passport must be valid for 6 months from arrival and visitors must hold return or onward ticket.
The Qatar diplomatic crisis was a diplomatic incident that began on 5 June 2017 when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic relations with Qatar and banned Qatar-registered planes and ships from utilising their airspace and sea routes, along with Saudi Arabia blocking Qatar’s only land crossing. They were later joined by Jordan and were supported by the Maldives, Mauritania, Senegal, Djibouti, the Comoros, and the Tobruk-based government in Libya.
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