International
support

In more than 90 countries

Your contact

image contact
masque image contact

Mike CAMUS
Head of International Desk Middle East, Turkey

Support by the
Crédit Agricole group

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.

+

Means of payment

With Bahrain

SWIFT transfer

Documentary remittance

Usage

Weak / None

Weak / None

Common

Weak

Weak

Common

+

Advice from the
international desk

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.

As Bahrain’s economy is closely linked to the price of hydrocarbons and recent price rises aimed at reducing the government's deficit and its external financial dependence, particularly on government agencies and donor member states within the GCC. Bahrain has a KIA sovereign wealth fund worth nearly $500 billion. Nevertheless, the economic downturn continues to affect the state’s budgets and public finances. This might have a domino effect on its sovereign wealth fund.

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

+

Our offer available
in this market

Entering
new markets

Find out more

Secure
your transactions

Find out more

Finance
your growth

Find out more

Optimise
your cash flow

Find out more