Optimism for Bahrain's banks

Oxford Business Group published an update on Bahrain's Financial Services market today which highlighted cautious optimism on the growth prospects of the banking sector. They highlighted that Bahrain's non-oil economy represents 80% of its GDP and that non-oil economic growth could reach 3.5% this year compared to 2.7% projected for the broader economy.

They further reported that banks are expected to benefit from regional assistance of US$10Bn over the next 10 years from the Gulf Cooperation Council's Development Fund which will fund large scale infrastructure projects including the expansion of the Bahrain International Airport, social housing and other transport related infrastructure projects.