Role of islamic finance in Bahrain

Bahrain is one of the pioneers of modern Islamic banking, with origins tracing back to
1970s. Presently, the kingdom has become the international hub of shari'a-compliant
financial services, playing host to the largest concentration of Islamic financial
institutions in the West Asia. Economically, Bahrain is a nation in transition with some
unique economic features. It has a diversified economy and the dependence of the
Kingdom on the oil resources is comparatively less than the other members of the Gulf
Cooperation Council (GCC).