In its endeavor to promote shared prosperity, the Kingdom of Bahrain strives to build financial, economic, and developmental relations with regional and international partners.
To achieve this vision, the Kingdom of Bahrain has joined several international organizations that include the Gulf Cooperation Council (GCC), Economic and Social Council of the Arab League, Islamic Development Bank, Arab Financial Institutions, World Bank Group, International Monetary Fund, and Asian Infrastructure Investment Bank.
With the aim of achieving sustainable shared prosperity and maximizing Bahrain’s benefits from these international organizations, the Ministry of Finance and National Economy represents the Kingdom of Bahrain in the afro mentioned organizations in cooperation with the relevant local entities.
Economic & Development Affairs Authority
The GCC Economic & Development Affairs Authority was established in 2016, to review and discuss related economic and development issues, and economic unity of the GCC.
Financial and Economic Cooperation Committee
The Financial and Economic Cooperation Committee is a Ministerial Committee of GCC Finance Ministers. The Committee usually meets twice a year to discuss issues related to strengthening financial and economic cooperation among the GCC members states. The Committee regularly reviews recommendations submitted by the GCC Customs Union Authority and the GCC Common Market Committee.
GCC Common Market
The GCC Common Market was launched in 2008 to provide GCC Nationals with equal economic opportunities in the following sectors:
- Movement and residence.
- Working in Public and Private Sectors.
- Social welfare and pension.
- Engagement in all professions.
- Engagement in economic, investment, and service activities.
- Real Estate ownership.
- Movement of Capital.
- Tax treatment.
- Establishment of corporations and Stock ownership.
- Education, health, and social activities without prejudice or discrimination, and if there were any suggestions or complaints by any citizen, he or she may use the GCC Common Market portal (GCC Takamul) at: gcctakamul.gcc-sg.org
Economic and Social Council of the Arab League
Economic and Social Council of the Arab League
The Economic and Social Council is an institution of the Arab League that is concerned with economic and social affairs for joint Arab action. The council is responsible for the formulation of the general policy for the Arab economic cooperation and the development of joint strategies in this area.
Islamic Development Bank (IsDB)
Islamic Development Bank (IsDB)
The Islamic Development Bank is a multilateral development bank that is focused on Islamic finance for infrastructure development in the Islamic countries. There are 57 member states and the Bank’s headquarters is located in Jeddah, Saudi Arabia.
The IsDB Group:
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Islamic Development Bank (IsDB)
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Islamic Cooperation for the Development of the Private Sector (ICD)
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Islamic Cooperation for the Insurance of Investment and Export Credit (ICIEC)
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International Islamic Trade Finance Corporation (ITFC)
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Institute for Islamic Economics and Finance (IsDBI)
Arab Financial Institutions
Arab Fund for Economic and Social Development
The Arab Fund for Economic and Social Development is an Arab regional financial institution focused on funding economic and social development in Arab countries by financing public and private investment projects and providing grants and expertise. The Arab Fund's activities are characterized by a number of important aspects that make it a model of cooperation and Arab economic integration, and a reflection of outstanding joint Arab action.
Arab Monetary Fund (AMF)
The Arab Monetary Fund was established in 1976 and includes all the Arab countries that are members of the League of Arab States. The fund aims to correct the imbalance in the balance of payments of members, and it also aims to achieve stability in the exchange rates of Arab currencies and develop Arab financial markets. The fund specializes in lending policy, loan commitments, money market activities, managed portfolios, and technical assistance.
Arab Investment and Export Credit Guarantee Corporation
The Arab Investment and Export Credit Guarantee Corporation is a multinational organization that provides guarantee services against commercial and non-commercial risks in Arab countries. The Corporation also offers a special coverage for financial institutions that provide loans to sovereign and sub-sovereign entities for infrastructure projects and other development projects in Arab countries.
Arab Authority for Agricultural Investment and Development
The Arab Authority for Agricultural Investment and Development is an independent multilateral financial institution established in 1976 in Sudan with the vision of achieving food security in the Arab World.
Arab Bank for Economic Development in Africa
The Arab Bank for Economic Development in Africa is a multilateral development finance institution that is focused on assisting African countries with large balance-of-payment deficits, providing technical assistance, and sponsoring Arab investments in Africa through investment guarantees and export financing.
World Bank Group
World Bank Group
The World Bank Group is a multilateral development bank, with over 180 member countries, that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital and infrastructure projects. The World Bank has 2 major goals, to end extreme poverty and promote shared prosperity.
The World Bank Group:
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International Bank for Reconstruction and Development (IBRD)
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International Development Association (IDA)
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International Finance Corporation (IFC)
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Multilateral Investment Guarantee Agency (MIGA)
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International Centre for Settlement of Investment Disputes (ICSID)
International Monetary Fund (IMF)
International Monetary Fund (IMF)
The International Monetary Fund is a multilateral international financial institution, with over 180 member countries, that supports economic policies that promote financial stability and monetary cooperation. The fund plays a critical role in the management of balance of payments difficulties and international financial crises.
Asian Infrastructure Investment Bank
Asian Infrastructure Investment Bank
The Asian Infrastructure Investment Bank is a multilateral development bank, with over 100 member countries, that promotes prosperity and economic development in Asia. The bank enables member countries to build sustainable, green, and innovative infrastructure with connectivity at its core.