Bahrain to remain a key center of Islamic finance

Dr. Ahmed Al Mutawa, Chairman of Gulf Finance House (GFH), told Euromoney on Wednesday, “……Bahrain hosts over 30 Islamic Institutions, who continue to reside here due to the supportive and developed regulatory framework fostered by the CBB,” he added.

It is expected that as Bahrain is one of the historical centers of Islamic finance, it will continue to remain that way, despite increased competition from other financial centers in the region and outside.

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Bahrain refinery expansion project ‘to cost $5 billion’

Bahrain’s Sitra crude oil refinery expansion is expected to cost around $5 billion with the completion by 2019, the energy minister said yesterday.

He went on to say ‘The increase in capacity according to the current plan is from 260,000 barrels per day to 360,000 and it will be commissioned by 2019. Financing will be through borrowing, we haven’t finalised this yet.’

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Designs for mega medical city in Bahrain by December

The King Abdullah Medical City project, will be built on a 1-million-sq-m plot of land and will be run by the Arabian Gulf University (AGU) and designed by SaudConsult, following an agreement signed last December.  The development will provide 264 beds, four centres of excellence and research, a college of medicine and student dormitories, as well as accommodation for doctors.

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