Bahrain's offshore banking center
The economic effects of Bahrain's schemes for licensing offshore banking units (OBUs) were the immediate response of major international banks and the financial services the banking center has rendered by improving regional money and exchange markets at a time when a Middle East link was needed to service the increasing demand for oil-wealth banking services. Bahrain's leadership also created a favorable climate. Aggressive competition from banks in Kuwait and Saudi Arabia have caused some friction, but informal supervision by the Bahrain Monetary Agency (BMA) should be able to avoid serious difficulty. Bahrain's success required a banking infrastructure, a free-enterprise system, a willingness to maintain banking standards, a country small enough to benefit directly from OBU income, and a gap in nearby competing centers. 39 references, 1 figure, 5 tables. (DCK)
- Research Organization:
- International Monetary Fund, Washington, DC
- OSTI ID:
- 6390369
- Journal Information:
- Econ. Dev. Cult. Change; (United States), Vol. 31:2
- Country of Publication:
- United States
- Language:
- English
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POLICY AND ECONOMY
02 PETROLEUM
BAHRAIN
PETROLEUM INDUSTRY
FINANCIAL ASSISTANCE
COMPETITION
ECONOMIC IMPACT
LICENSING
OFFSHORE SITES
ASIA
FINANCIAL INCENTIVES
FINANCING
INDUSTRY
MIDDLE EAST
290200* - Energy Planning & Policy- Economics & Sociology
020700 - Petroleum- Economics
Industrial
& Business Aspects