Bahrain strengthens role as leading banking and investment centre in Gulf region

TDT | Manama

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The Kingdom of Bahrain has succeeded in consolidating its position as a leading financial and banking hub in the region and a key bridge for Gulf economic integration, making it a preferred destination for regional and international financial institutions.

This was affirmed by His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, as he attributed this achievement to the Kingdom’s advanced regulatory environment and balanced economic policies, which continue to strengthen confidence in the Kingdom’s financial sector.

Speaking during a reception marking the golden jubilee of the Gulf International Bank (GIB), H.E. Shaikh Salman said the milestone reflected “pride in a successful banking journey and a pioneering institutional experience that has demonstrated resilience and adaptability amid economic and financial changes.”

Progress

He added that GIB’s progress had played a vital role in “strengthening trust and partnership between governments and the private sector in the markets where the bank operates, particularly in the Kingdom of Bahrain and the Kingdom of Saudi Arabia.”

The Minister highlighted that Bahrain’s financial achievements align with the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, and the balanced economic policies of the government headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

“These foundations have enabled the Kingdom to enhance its competitiveness and reinforce its role as a regional financial centre,” he said.

H.E. Shaikh Salman noted that GIB represents a successful model of economic, financial and banking cooperation between Bahrain and Saudi Arabia, drawing strength from the deep-rooted historical ties and close coordination between the two countries.

Cooperation

He stressed that such cooperation contributes to advancing development pathways and fostering shared prosperity and growth for both nations.

His Excellency underscored the importance of the financial and banking sector as one of the main contributors to Bahrain’s gross domestic product, citing its central role in financing projects, stimulating investment, supporting economic diversification and driving sustainable growth within a comprehensive economic vision based on fairness, sustainability and competitiveness.