Banking Capital Of The Middle East

[Jakob]

Which city is in your opinion the banking capital in the middle east?

[GVNY]

My vote would have to go to Istanbul.

[Jakob]

Me too, Istanbul.

[Monkey]

from some international issue israeli banks are stable!

[Urban Girl]

but Istanbul is not in middle east;)

[Sen]

Dubai.

[Nemo01]

Again Baghdad is in the list, which bank would like to operate from there?

You are talking about a very big middle east. The real middle east consist of the next five countries: Iraq, Syria, Jordan, Lebanon and Isreal. In that case i'll go for Tel Aviv

[TheBaseTower]

Tel Aviv is a worldwide buisnees center and prob. the biggest in the ME, vote goes to Tel aviv...

[GVNY]

but Istanbul is not in middle east;)

It sure is! It is in Asia, Europe and the Mid East, and thus the key position to control much of the banking in the area.

[Jakob]

The reason why I put Istanbul on the list is because of the two parts of Istanbul, the Asian and the European part. So, in my opinion it has to be on the list and for all those who have doupts may vote for another city. ,)
Baghdad has to be on the list as one of the biggest cities in the region. Why not?

[Bahraini Spirit]

It's known that for the last 3 decades, Bahrain (Manama) has been the financial capital of the mid east after the war broke out in Beirut. Dubai is building it's sector strongly also.

[malek]

Samascus hahahahahaha

[samsonyuen]

Tel Aviv. It's in the only developed nation in the region. And yes, Turkey is in the Middle East, much more than it is in Europe (come on!).

[Monkey]

go ahead Tel Aviv:)

[Urban Girl]

Tel Aviv. It's in the only developed nation in the region. And yes, Turkey is in the Middle East, much more than it is in Europe (come on!).
come on who is talking about Turkey in this thread? only you?

[Urban Girl]

i voted for Tel Aviv;)

[Bahraini Spirit]

Bein developed doesn't mean your a banking capital. Plus, for banks with mid east hq, all the major ones are in the gulf.

This thread is about banking, not most developed.

[Monkey]

Israel in 22th place of economical stable
Bahrain 40:)
Egypt,Syria 80 etc...

[Monkey]

i voted for Tel Aviv;)

tesekkurler sen nen yokdur:))

[Zarkon]

Istanbul for me

[Bahraini Spirit]

Israel in 22th place of economical stable
Bahrain 40:)
Egypt,Syria 80 etc...


Can you tell me where is the link with being a banking or financial capital? There isn't and Bahrain has been the freest economy in the mid east for decades. Tel Aviv hasn't been a financial capital. Here you go to support what I say and we're not talkin about economy here (article two years old atleast and there are more than 365 financial institutions in Bahrain now, a lot are on the waiting list):

The Kingdom of Bahrain is the leading international financial centre in the Middle East.

The country hosts the largest concentration of banks and other financial institutions in the Middle East, with nearly 350 financial institutions offering a diverse range of services, including money market and portfolio management, investment advice and insurance products involving risk transfer and capital accumulation.

Bahrain has also emerged as the region's Islamic banking hub, boasting the highest concentration of Islamic financial institutions and industry-support organisations.

The kingdom's success as a global financial centre is built upon the scale and scope of its markets and their products, underpinned by a policy of rigorous supervision implemented to standards of international best practice by the Bahrain Monetary Agency (BMA), the country's central bank and sole regulator for the financial system.

Bahrain is also among a select few countries in the Middle East and North Africa (Mena) region that fully implement Financial Action Task Force (FATF) recommendations on money laundering.

The BMA is currently actively seeking to advance the financial sector by implementing a comprehensive plan aimed at maintaining Bahrain's leading position as regional provider of financial services and ensuring further growth and expansion in the coming years.

The plan focuses on the strategic development of seven asset classes, namely debt and equity capital markets, insurance, Islamic finance, corporate and private banking and remote services.

A key strength of Bahrain lies in its highly skilled and qualified human resources. However, BMA's strategic plan also focuses on ensuring the continued availability of highly qualified personnel, to enhance the competitive advantage of the financial industry.

The growth and development of the kingdom's financial sector has been underpinned by a buoyant economy, which has averaged an annual growth rate of 4.5% in the last five years.

Management of Bahrain's economy continues to earn international accolades. The US-based Heritage Foundation has, in recent years, consistently ranked Bahrain as the most free economy in the Mena region.

The kingdom also tops all other Arab countries in terms of foreign direct investment (FDI) inflows, according to the United Nations Annual World Investment Report for 2002.

The sovereign rating status of A- awarded by Standard & Poor's (2002) and Fitch-Ibca (2003) is ample testimony of the inherent strengths of the country's economy.

Collectively, these independent international acknowledgements reflect the undoubted optimistic outlook for further growth and expansion in the kingdom's financial sector.

[SA BOY]

well the right answer is missing-Manama has been the middle east banking centre for decades

[Bahraini Spirit]

well the right answer is missing-Manama has been the middle east banking centre for decades

They have it it's Al-Manamah written here, well a lot of ppl confuse the difference between economy and bein a banking hub.

[RafflesCity]

I remember reading somewhere that it was Bahrain.

[malek]

Its Aleppo... trust me on this one.

:runaway:

[Monkey]

Tel Aviv won:)

[big W]

It used to be Beirut before the war broke out over there. Now I think it is Manama Bahrain. However I can see a shift back to Beirut in some instances.

[SeeMacau]

Istanbul, probably Dubai in the future

[bustero]

It's interesting that most people seem to have voted for telaviv, when the arabs which comprise most of the middle east will not bank or even go there!

Istanbul is very big but more inward looking as a center for finance. Beirut used to be the the international center but they're still recovering from years of war. The toss up now is Bahrain and Dubai with Bahrain still presently larger and more established but Dubai quickly catching up.

[Bahraini Spirit]

It's interesting that most people seem to have voted for telaviv, when the arabs which comprise most of the middle east will not bank or even go there!

Istanbul is very big but more inward looking as a center for finance. Beirut used to be the the international center but they're still recovering from years of war. The toss up now is Bahrain and Dubai with Bahrain still presently larger and more established but Dubai quickly catching up.


You're right. Soo many banks are comin to the gulf and with projects like the Bahrain Financial Harbour and Dubai International Financial Center, more are comin. Qatar is also vying for its own financial center. The banking capitals will stay in the gulf. Also note that Islamic Finance is a fast growing sector and ppl c that as the future and Bahrain is the world's best for that.

[Kanji]

I think it is Kuwayt...

-----------------------------------------------------KANJI, AHO BAJO

[1st Division Marine]

well i choose Iraq because it will be once in the right path of wealth
thats whay i chose the city of Baghdad.

[Bahraini Spirit]

I think it is Kuwayt...

-----------------------------------------------------KANJI, AHO BAJO

Kuwait has strong banks performance but it just allowed foreign banks to enter, only 3 are registered, so its far from bein a banking hub.

Regarding Iraq, if it ever will be a banking hub, it'll need decades, but I don't see that happenin given the current indications and I think the problems will last for years if they're ever solved.

[Monkey]

Tel Aviv go ahead:)

[nick_taylor]

Al-Manāmah