Bahrain ranked fifth among strongest Islamic economies

TDT | Manama

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Bahrain has taken fifth place among the strongest Islamic economies, according to a new report by DinarStandard.

The kingdom scored 81.9 points, maintaining its standing in Islamic finance across the region.

The report pointed to Bahrain’s flexible and varied economy, built on updated legislation, private-sector incentives, investment in skills, and growth in tourism and industry.

Malaysia led the ranking with 165.1 points, keeping its edge through a strong showing in Islamic finance, halal industries and family tourism, which has become a mainstay of its economy.

Projects

Saudi Arabia came second on 100.9 points. The rise was linked to projects under ‘Vision 2030’, aimed at widening income sources and reducing reliance on oil.

Growth in religious tourism, leisure, and large infrastructure spending also carried weight.

Indonesia followed in third with 99.9 points.

Its large home market and exports of halal products, backed by policies favouring domestic goods, gave it a solid footing.

Tourism

The United Arab Emirates ranked fourth with 95.8 points, its tourism industry drawing millions each year.

New financial services in Islamic banking also added strength to non-oil growth.

Behind Bahrain, Jordan was sixth with 71.4 points, supported by tourism and medical tourism. Kuwait came seventh with 67 points, resting on long-term stability and investment in energy and infrastructure.

Halal industries

Pakistan placed eighth with 64.1 points, driven by its large consumer base and halal industries.

Turkey was ninth with 64 points, with exports from varied industries pushing growth.

Qatar completed the top ten with 60.4 points, helped by infrastructure schemes and investment in sport as a tool to attract business.