Minimal impact to banks in Bahrain from COVID-19 due to strong digital infrastructure that was already evolving.

Government bodies in Bahrain moved to the cloud and nationwide commercial 5G was rolled out. Various banks were quick to adapt, offering different unique online services. Meem was the region’s first shari’a-compliant digital banking service. Fawri and Fawri+ – the electronic funds transfer system – saw an enormous increase in usage. The financial services industry in Bahrain contributes 17% of non-oil GDP and is the biggest contributor after oil. To read more click here.