Banks In Bahrain
Bahrain (11/04)
The first Gulf state to discover oil, Bahrain has worked to diversify its economy over the past decade. Bahrain has stabilized its oil production at about 40,000 barrels per day (b/d), and reserves are expected to last 10-15 years. Revenues from oil and natural gas currently account for 16.5% of GDP and provide about 60% of government income. The Bahrain Oil Company refinery built in 1935, the first in the Gulf, has a capacity of about 250,000 b/d. Since 1980, 60% of the refinery has been owned by the Bahrain National Oil Company and 40% by the U.S. company Caltex. Saudi Arabia provides most of the crude for refinery operation via pipeline. Through an agreement with Saudi Arabia, Bahrain also receives a large portion of the net output and revenues from Saudi Arabia's Abu Saafa offshore oilfield. The Bahrain National Gas Company operates a gas liquefaction plant that utilizes gas piped directly from Bahrain's oilfields. Gas reserves should last about 50 years at present rates of c ... [Read More]
Background Notes: Bahrain
Background Notes: BahrainPA/PCSource: Office of Public Communication, Bureau of Public AffairsDate: Nov 28, 199111/28/91Category: Country DataRegion: MidEast/North AfricaCountry: BahrainSubject: Military Affairs, Cultural Exchange, Travel, History, International Organizations, Trade/Economics[TEXT]Official Name: State of BahrainPROFILEGeographyArea: 693 sq. km. (268 sq. mi.); about four times the size ofWashington, DC. Bahrain is an archipelago consisting of 33 islands,only 5 of them inhabited. Cities: Capital--Manama (pop. 122,000--1985 est.). Other city--Al Muharraq. ... [Read More]
Consular Section
Embassy Location: Third Floor - Teck Guan Plaza, Jalan Sultan, Bandar Seri Begawan, BS8811 ... [Read More]
M) Money Laundering and Financial Crimes
The QCB, Public Prosecutor and the Criminal Investigation Division (CID) of the Ministry of Interior are the principal entities that have the responsibility for investigating and prosecuting money laundering cases. The QCB receives all suspicious transaction reports and conducts an initial analysis. The QCB obtains additional information from the banks and other government ministries before determining whether to forward the suspicious report to the Ministry of Interior. The Public Prosecutor and CID work closely on all criminal cases, although in financial cases they often seek the assistance of the QCB. There are no specialized units within the Public Prosecutor or CID’s offices that initiate or investigate financial crimes. Qatar does not have a Financial Intelligence Unit (FIU). There is little financial crimes investigative experience. There have been no arrests or prosecutions related to money laundering or terrorist financing in 2002. The Government of Qatar (GOQ) is working to ... [Read More]
M) Money Laundering and Financial Crimes
The following are summaries of the most significant priority issues:Refocus Efforts of High Intensity Financial Crime Areas (HIFCAs). HIFCAs are special, high-risk areas or sectors where law enforcement will concentrate its resources and energy to combat money laundering. The 2001 Strategy mandated that the HIFCA task forces become operational and conduct investigations designed to result in indictments, convictions, and seizures, rather than focus primarily on intelligence gathering. Each of the six HIFCA Task Forces is now actively working cases. HIFCA Task Forces are composed of, and draw upon, all relevant federal, state, and local agencies. The Departments of Treasury and Justice jointly supervise the HIFCA Task Forces, and the 2001 Strategy primarily tasks the Federal Law Enforcement Training Center (FLETC) and Justice’s Asset Forfeiture and Money Laundering Section to develop an advanced money laundering training program to enhance the HIFCA Task Forces’ abili ... [Read More]
Pillar Programs
At the request of the Crown Prince of Bahrain, the USG is providing an initial seed contribution to fund a project to provide advice to the government of the Kingdom of Bahrain (GOB) on labor market reform. This project will address potentially destabilizing structural unemployment amongst the population of this democratizing country. The GOB will cost share in this project to formulate recommendations and assist in implementing reforms. These reforms could include the following: Legislative drafting, including, unemployment compensation and minimum age legislation; cluster-based development including further competitiveness analyses; educational reforms to improve relevance and responsiveness; reorganizing public and private sector labor market institutions to implement new policies and practices; conducting a public information campaign, under the leadership of the GOB; developing systems that link education and training institutions with the private sector; and f ... [Read More]
US Department Of State Post Report
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Calendar of Events
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Background Notes Archive - Near East and North Africa
U.S. Department of StateBackground Notes: Bahrain, October 1996Bureau of Public AffairsOfficial Name: State of BahrainPROFILEGeographyArea: 693 sq. km. (268 sq. mi.); about four times the size of Washington, DC. Bahrain is an archipelago consisting of 33 islands, only six of them inhabited.Cities: Capital--Manama (pop. 145,000--1993 est.). Other city--Al Muharraq (81,000--1993 est.).Terrain: Low interior plateau and hill on main island.Climate: Hot and humid from May-September, temperate from October-April.PeopleNationality: Noun and adjective--Bahraini(s).Population (1996 est.): 586,000; 66% indigenous.Ethnic groups: Bahraini 63%, Asian 19%, other Arab 10%, Iranian 8%.Religions: Shi'a and Sunni Muslim.Languages: Arabic (official), English, Farsi, Urdu.Education: Attendance--73%. Literacy (1990 est.)--77% (male 82%, female 69%).Work force (1987 est.): 197,000 (about 44% indigenous, 56% expatriate). Industry and commerce--74%. Services--19%. Agriculture--4%. Government--3% ... [Read More]
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