Bahrain banking institutions are among the most liberal in the Middle East. The government openly and actively pursues foreign investors and sees them as necessary to economic success in Bahrain. Banks in Bahrain are part of a long-standing trade-based culture and business environment that thrives on the financial investments of foreign companies and individuals.
With the US-Bahrain Bilateral Investment Treaty (BIT) of May 2001, Bahrain gave the United States favored-nation status, making business banking in Bahrain even more attractive. Benefits to banking in Bahrain include:
1. International money transfers between banks in Bahrain and the US receive full protection from the Bahrain government and normally occur without major delay or complications.
2. The culture of corporate banking in Bahrain encourages foreign investment and welcomes Western visitors openly.
3. Fierce competition from Qatar and Dubai in the finance and tourism industries forces banks in Bahrain to uphold the best business practices or risk losing investors to these other regional players.
4. In spite of the instability of the region overall, there is no significant danger to Americans traveling to or living in Bahrain.
Action Steps
The best contacts and resources to help you get it done
Establish credibility for Bahrain commercial banking and foreign investments
When you invest in a foreign country, you want to ensure your money will be available when you need it. Annual reports document the track record for banks in Bahrain.
I recommend: Research annual reports for large Bahrain banking institutions like the
National Bank of Bahrain, which offers financial reports, statements and reviews.
Bahrain Islamic Bank provides annual reports for the past five years.
Jumpstart your banking with online applications for Bahrain banks
Save yourself some time and energy getting the first step out of the way by applying online with several banks in Bahrain at once. Compare services and check out which banks provide online banking and security for foreign investors.
I recommend: Find applications online for
Burgan Bank and review their privacy policy for details on online security.
Arab Bank offers an online application, privacy statements and security statements.
Compare Bahrain banks and discuss your investment needs with agents at Bahrain commercial banks
With so much of the country's development hinging on foreign investors, banks in Bahrain actively compete to earn your business. Take advantage of competitive rates to increase your return.
I recommend: Contact representatives in the international department at the
Bank of Bahrain and Kuwait (BBK) for information on offshore lending, correspondent banking or Islamic banking.
Shamil Bank representatives can help with investment opportunities and Sharia’a-compliant products.
Tips & Tactics
Helpful advice for making the most of this Guide
- Many Bahrain banking institutions work in accordance with Islamic law, meaning their products and services do not involve interest rates or payments.
The official source of Banks in Bahrain is the Banks in Bahrain page at Business.com
Related Resources from Business.com
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