Reputation as the regional financial hub is at risk
Political unrest in Bahrain risks the country “losing its competitiveness for a generation,” most significantly as a regional financial hub, according to Lord Mark Malloch-Brown, former deputy secretary general of the UN.
Speaking at the Euromoney Bahrain conference, Malloch-Brown said that Bahrain’s legacy as a financial hub was being eroded by the rise of the financial sector in Dubai, but also other efforts around the region to develop rival financial centres.
“The sooner political issues [are] resolved the sooner Bahrain take [can] its place a liberal, trading stage at the heart of the Gulf,” he said.
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