VOL. XLII

No. 32

9-August-1999

BAHRAIN

Bahraini Banks Muddle Through A Sluggish 1998

While Bahrains onshore banks recorded less than spectacularfinancial results in 1998, they were by no means disastrous and the systemsunderlying strength remains relatively unshaken. But the changing tide offortunes in the Gulf the recent upturn in oil prices is highly vulnerable tocontinued OPEC compliance where the need for reform is still paramount andmarket liberalization is looming, calls for clear growth...