- Signing of commitment letter and memoranda of understanding with Tunisian companies with the aim to develop the private sector
- Signing of the Line of Financing agreement between ICD and Sub Saharan African Banks.
- ICD highlighted the role of SMEs as engine of growth and sustainable development during the 43rd Annual Meeting of IsDB Group
- ICD, IAIB, Sberbank and THIQAH organized the 1st Russian Islamic Economy Forum in Moscow
- SBERBANK of Russia signs MoU with ICD to develop and offer Islamic finance products to its clients
- ICD Board of Directors names Al Ammari as Acting CEO and General Manager following departure of Al Aboodi
- ICD Sign a MoU with JANA to Test New Banking Model
BAHRAIN | Overview
Official name: Kingdom of Bahrain
Capital: Manama
Official languages: Arabic
Monetary unit: Bahraini Dinar (BHD)
Population (million): 1.3
Total area (sq km): 760
OVERVIEW
Located in the Gulf, east of Saudi Arabia, Bahrain is a high income country that had enjoyed robust economic growth in the recent years. Its GDP per capita had increased steadily since early 2000. Competitive and efficient regulatory environment and developed communication and transport facilities make Bahrain benefit from high level of trade and investments.
Being one of the oil-rich countries in the GCC, Bahrain is developing the national labor force to ceate a strong non-oil based economy. In addtion, government subsidies are under close monitoring as it may be a major drain on the budget with the high costs keeping energy and water prices down for consumers. Bahrain has been also relatively successful in promoting gender equality and integrating the female into labor force.
Year joined ICD:
Number of projects approved: 5
Gross Approval ($US million): 73.00
Gross Disbursement ($US million): 22.44
