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Mike CAMUS
Head of International Desk Middle East, Turkey
Mike CAMUS
Head of International Desk Middle East, Turkey
Last updated: August 2023
Crédit Agricole Group's International Desk in the Middle East mainly provides support to the Group's corporate clients in Bahrain for their local operations, specially regulatory advice, account openings, financing, issuing market guarantees, information and advice.
The Group relies on Ahli United Bank for the banking part and on Team France Export for non-banking support.
General Information
The Kingdom of Bahrain is the smallest state in the Middle East and is seen as the Achilles heel of the GCC. Its capital, Manama, is the economic heart of the Kingdom.
Bahrain has seen a steady decline in its production of oil reserves since 1970, prompting the Kingdom to take steps to diversify its economy. These include the development of sectors such as oil processing & refining, aluminium production, the hotel industry and retail trade.
It’s important to note that Bahrain uses a different weekend structure than the one we are used to in the West, namely from Friday-Saturday.
Means of Payment & Banking Specificities
Commonly used international payment methods are also available. However, when it comes to importing goods, there are specific procedures and documentary requirements that need to be observed (e.g. rules regarding having the relevant import documents, document authentication as well as specific rules of origin). Preferably obtain a down payment, and be sure to have the rest of the amount guaranteed by a confirmed letter of credit.
Sources : CCI – Business France – CASA – FMI – CBB
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