MANAMA, Bahrain, July 2, 2011 /PRNewswire-USNewswire/ -- Bahrain's gross domestic product is expected to grow by 3 percent in 2011, according a report from the Central Bank of Bahrain. In an interview with the Bahrain News Agency, CBB Governor Rasheed Al Maraj praised the projections and refuted rumors that international banks had left Bahrain during the recent unrest and forecasted further economic growth for the next year.
When the Bahrain Chamber for Dispute Resolution-AAA (BCDR-AAA) formally opened its doors last January, it marked many "firsts." The result of a partnership between the AAA and Bahrain's Ministry of Justice and Islamic Affairs, the center is the first organization of its kind to provide a formal system of ADR services in Bahrain. Bahrain's unique ADR law establishes the Persian Gulf island nation as a neutral venue for multinational companies who choose to resolve their disputes through international arbitration. Under the law, cases with over 500,000 Bahraini dinar in claims that involve an international party or a party licensed by the Central Bank of Bahrain will be directed to the BCDR-AAA for binding arbitration instead of the domestic courts.
To: BUSINESS EDITORS Contact: Sh. Nayla Ali Al Khalifa, Central Bank of Bahrain, +00973 17 547 360, Nayla@cbb.gov.bh, internationalmedia@bahrainedb.com; Franciscka Lucien, flucien@webershandwick.com or Camille Agon, both of Weber Shandwick, +1-212-445-8388
One segment of the financial markets has been watching the global credit crunch with interest. Islamic financing makes up a small percentage of total global financial assets, but it is a fast-growing segment of the market. As conventional banks go , having got their fingers burnt by complex financial instruments, Islamic financing's exponents believe their investment philosophy is more likely to resonate with banks and investors. One of the key factors in Islamic finance's resilience, even in the current climate, explains Abdul Rahman Mohammed Al-Baker, executive director of financial institutions supervision at the Central Bank of Bahrain (CBB), is the structure of Islamic products. While the pace of innovation in the Islamic financial market is unlikely to abate even in ...
... a summary the proposed regulation for Bahrain and Saudi Arabia and the existing regulation in pl.... Bahrain On 26 June 2011 the Central Bank of Bahrain (CBB) issued, for a consultation p...
In an effort to fight inflation or recession, central banks manipulate the money supply. The speed with which a change in money supply could affect price level and the level of production differs from one country to another, depending on rigidities. The main purpose of this paper is to show that the adjustment speed among the mentioned macro variables is higher in countries that are more open. Using the bounds-testing approach, a relatively new approach to cointegration and error-correction modeling, we estimate the speed of adjustment in the money market in 28 developing countries. A simple cross-sectional model is utilized in which the measure of adjustment speed is related to three different measures of openness. Regardless of the measure used, a significant and positive relationship...
...Consider the first country, Bahrain. In appears that income and exchange rate are the ...
The Middle East rode out the global recession better than the major industrialized economies, and the region is well positioned to benefit from the global recovery. The oil-exporting nations of the Gulf drew on their ample reserves in 2009 to support expansionary fiscal policies. Government spending will continue to increase, even if oil prices decline, with sovereign wealth funds available to finance potential fiscal deficits, says Moody's Investors Service. The Gulf Cooperation Council's fast-growing population of 39 million, with half below the age of 20, means there is a need to create jobs, says Kamal Ahmed of Bahrain's EDB. Kuwait's central bank cut its discount rate a half point to 2.5% in February to encourage banks to lend and help fund development. Meanwhile, new markets are o...
MANAMA, Bahrain, March 17, 2011 /PRNewswire-USNewswire/ -- The government of Bahrain Thursday reopened the stock exchange, several banks and the central bank, a sign that normalcy is returning to the island kingdom's financial markets. Despite Manama's financial center being blocked by police, the stock market resumed trading at its emergency location.
On Jan 11, 2010, the Kingdom of Bahrain formally launched a dispute resolution chamber in the capital city of Manama. The center is an initiative of Bahrain's Ministry of Justice, in partnership with the American Arbitration Association (AAA). The center will be known formally as the BCDR-AAA. The legislation establishing the center creates a statutory arbitration caseload by requiring financial disputes involving more than $1.3 million to be arbitrated if they involve an international party or a party licensed by Bahrain's Central Bank. A unique feature of the legislation is the creation of a so-called "free arbitration zone." Sheikh Khaled said that in establishing the BCDR-AAA, Bahrain has sought to bring the very latest in global ADR solutions to the region.
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