List of banks in Bahrain with Conventional and Islamic Options

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Man posing in urban Bahrain during evening with modern skyscrapers.
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If you're looking to bank in Bahrain, you have a variety of options to choose from. Bahrain has a well-developed banking sector with numerous conventional and Islamic banks.

You can consider banks like Ahli United Bank, which offers a range of personal and business banking services. Standard Chartered Bank is another option, providing a wide range of products and services to its customers.

Some banks in Bahrain also offer online banking services, making it easy to manage your finances remotely. For example, Bahrain Islamic Bank offers online banking services for its customers.

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Conventional Banks

Conventional Banks in Bahrain are a staple of the country's financial landscape.

The Central Bank of Bahrain is the main regulator of conventional banks in the country, ensuring they operate within the law and maintain the trust of their customers.

Bahrain Islamic Bank was the first Islamic bank in the country, established in 1982, and has since become a leading player in the conventional banking sector.

Expand your knowledge: ABC Islamic Bank

Credit: youtube.com, ✅ The 3 Best Banks in Bahrain (Full Guide) - Open Bank Account

Many conventional banks in Bahrain offer a range of services, including personal and corporate banking, as well as investment and wealth management.

The National Bank of Bahrain, one of the oldest banks in the country, has been in operation since 1957 and has a strong presence in the conventional banking market.

Conventional banks in Bahrain often have a large network of branches and ATMs, making it easy for customers to access their services.

The Ahli United Bank, another major player in the conventional banking sector, has a strong focus on customer service and offers a range of innovative banking products.

Many conventional banks in Bahrain also offer online banking services, allowing customers to manage their accounts and conduct transactions from the comfort of their own homes.

Islamic Financial Institutions

Islamic Financial Institutions in Bahrain offer a range of services and products that cater to the country's diverse financial needs. Bahrain Islamic Bank (BisB) is the first Islamic bank in the country and the fourth in the GCC, incorporated in 1979.

Credit: youtube.com, Bahrain Bank - Islamic Banking Competition

BisB operates a network of eight branches, including four financial malls and 45 ATMs nationwide. The bank's total assets amounted to $3.6 billion for the year ended December 31, 2023.

Here's a list of some of the Islamic banks in Bahrain:

These Islamic banks offer a range of services and products, including Shariah-compliant financing and investment options.

Islamic Finance

Islamic Finance in Bahrain has a rich history, with the first Islamic bank, Bahrain Islamic Bank (BisB), being incorporated in 1979. This bank operates a network of eight branches, including four financial malls and 45 ATMs nationwide.

The Bahrain Islamic Bank (BisB) is the first Islamic bank in the country and the fourth in the GCC. For the year ended December 31, 2023, the Bank's total assets amounted to $3.6 billion.

Some of the key Islamic banks in Bahrain include Bahrain Islamic Bank (BisB), Al Baraka Islamic Bank B.S.C. (c), and Al Salam Bank B.S.C. These banks offer a range of financial services, including Shariah-compliant savings accounts, current accounts, and investment products.

If this caught your attention, see: Al Baraka Group

Credit: youtube.com, Bahrain Islamic Bank - Best Islamic Bank Award 2014

Here is a list of some of the major Islamic banks in Bahrain:

These banks are well-established and reputable institutions in Bahrain, offering a range of financial services to individuals and businesses.

Top Banks

Bahrain has a thriving banking sector, with several top banks operating in the country. Among them, Ahli United Bank is one of the largest, with a significant presence in the region.

The bank's total assets are substantial, making it a major player in the Bahraini banking market. Gulf International Bank is another notable bank, with a strong focus on international banking and finance.

Investcorp is a leading investment bank in Bahrain, with a global presence and a diverse portfolio of assets. Bank of Bahrain and Kuwait is a well-established bank with a long history in the region.

Here are the top banks in Bahrain, listed in no particular order, along with their total assets:

  1. Ahli United Bank
  2. Arab Banking Corporation
  3. Al Bakra Bank Group
  4. Gulf International Bank
  5. Investcorp
  6. Bank of Bahrain and Kuwait
  7. Ithmaar Bank
  8. National Bank of Bahrain
  9. Bahrain Development Bank
  10. Arcapita

List of Banks

National Bank of Bahrain is located at P.O.Box 106 Manama, Bahrain.

Credit: youtube.com, National Bank of Bahrain: The move towards open platforms

The Central Bank of Bahrain can be found online at www.cbb.gov.bh.

Ahli United Bank, the third largest bank in Bahrain, has assets of $27.5 billion.

Bahrain Development Bank is situated at P.O. Box 20501, Manama.

United Gulf Bank has a strong presence in the country.

Al Salam Bank BSC can be contacted at PO Box 18282, Manama, with a phone number of (+973) 17 560000.

United

United Gulf Bank B.S.C. (UGB) is a bank that offers investment and corporate banking, asset management, private equity and brokerage, and treasury services.

It was founded in 1980 and has assets under management totaling approximately $14 billion as of December 31, 2023.

United Gulf Holding Company (UGHC) owns 100% shares of the Bank, and UGHC is a subsidiary of the KIPCO Group (Kuwait Projects Company Holding), one of the largest investment companies in the Middle East and North Africa.

United Gulf Bank operates in Bahrain and has a significant presence in the region.

Here's a quick summary of United Gulf Bank's key facts:

Khaleeji

Credit: youtube.com, Khaleeji Commercial Bank

Khaleeji Bank is a leading Islamic bank that was founded in 2004. It's also known as Khaleeji Commercial Bank, or KHB for short.

The bank operates mainly from Bahrain and doesn't have any overseas branches. This is in contrast to some other banks that have a global presence.

Khaleeji Bank is listed on the Bahrain Stock Exchange and the Dubai Financial Market. This gives investors a chance to buy shares in the bank.

As of March 2024, the bank's total assets reached approximately $3.8 billion. This is a significant amount of money and a testament to the bank's success.

Related reading: Khaleeji Commercial Bank

Overview

Bahrain has become a hotspot for bankers and investors in the Gulf.

The country is home to 403 institutions, including commercial and investment banks.

A significant number of these banks are conventional, with 79 institutions falling under this category.

There are also 24 Islamic banks in Bahrain, catering to the growing demand for Shariah-compliant financial services.

The total assets of banks in Bahrain have seen a decline, from $93.1 billion in 2015 to $90.1 billion in recent years.

Structure

Stunning night view of Bahrain World Trade Center with clear water reflections and modern skyline.
Credit: pexels.com, Stunning night view of Bahrain World Trade Center with clear water reflections and modern skyline.

In Bahrain, there are 31 retail banks as of the end of September 2020. This number may seem high, but it's actually a relatively stable figure.

The banking structure in Bahrain has remained largely unchanged over the years. The Central Bank of Bahrain provides a comprehensive overview of the banking sector.

A total of 114 locally incorporated banks operate in Bahrain, adding to the country's diverse banking landscape. This number includes both retail and wholesale banks.

There are 62 wholesale banks in Bahrain, catering to the country's growing business and trade needs. These banks play a crucial role in facilitating international transactions.

Foreign banks also have a presence in Bahrain, with 17 branches operating in the country. This is a significant number, reflecting the country's strategic location and business-friendly environment.

Here's a breakdown of the different types of banks in Bahrain:

  • Retail banks: 31
  • Locally incorporated: 114
  • Wholesale banks: 62
  • Foreign banks: 17
  • Representative offices: 8
  • Bank Society: 1
  • Islamic banks: 24

The banking sector in Bahrain is diverse and well-established, with a range of institutions catering to different needs and preferences.

Forrest Schumm

Copy Editor

Forrest Schumm is a seasoned copy editor with a deep understanding of the financial sector, particularly in India. His expertise spans a variety of topics, including trade associations, banking institutions, and historical establishments. Forrest's work has shed light on the intricate landscape of Indian banking, from the Indian Banks' Association to the significant 1946 establishments that have shaped the industry.

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