Bahrain’s economy has benefited from diversification, and Manama’s status as the Gulf’s premier financial hub is not under imminent threat, write James Gavin and Kevin Godier.Bahrain’s relative lack of hydrocarbon resources has helped it to become one of the region’s most diversified economies, stimulating a steady flow of project finance and other corporate activities in a range of sectors.
As Saudi Arabia remains flush from booming oil prices, and opens its banking sector up to competition, the kingdom’s institutions are making aggressive plays for the consumer market and other new business. James Gavin, Jon Marks and Paul Melly report .With international banks set to enter Saudi Arabia’s previously guarded markets, as the long-awaited capital market law comes into effect, the threat of increased competition is looming on the horizon for the country’s banks.