No. 48



Bahraini Offshore Banks Prosper Despite Unrest

This is a time of some anxiety in the offshore banking sector in Bahrain. The banks have had to contend not only with the low-intensity conflict that has beset the island since November 1994 but also with the continuing efforts of the US authorities to curtail the activities of Libyan interests which have invested in the offshore sector. Thus far the domestic commercial banks have borne the brunt of the...