Javascript's Bahrain: Unlocking The Kingdom's Tech Potential

JS Bank, a Pakistan-based subsidiary of Jahangir Siddiqui & Co., opened its first branch in Bahrain in 2015. The branch, located in Manama, the capital and largest city of Bahrain, was the bank's first outside of Pakistan. Bahrain is an island country in West Asia situated on the Persian Gulf. It is an archipelago consisting of Bahrain Island and about 30 smaller islands. The country's name, Bahrain, is derived from the Arabic term al-baḥrayn, meaning two seas.

JS Bank's first branch outside Pakistan

JS Bank is a Pakistani commercial bank with its headquarters in Karachi, Pakistan. It was established in April 2007 as a result of the merger of two banks, Jahangir Siddiqui Investment Bank Limited and American Express Bank. The bank is a subsidiary of Jahangir Siddiqui & Co. and currently operates branches across Pakistan.

As one of the fastest-growing banks in Pakistan, JS Bank has expanded its presence internationally, with its first international branch located in Manama, Bahrain. This marks the bank's first branch outside of Pakistan, showcasing its commitment to growth and expansion.

The bank has a strong focus on digital financial services, SME, and consumer lending, and it strives to empower its customers financially. JS Bank offers a comprehensive range of products and services, including personal banking, corporate banking, investment banking, and digital banking solutions. The bank has been recognised for its excellence by various institutions, including AsiaMoney, EuroMoney, and Asian Banking and Finance.

JS Bank's international branch in Bahrain allows the bank to serve a diverse range of customers and meet their financial needs. This expansion reflects the bank's success and ambition to cater to a global audience. With its presence in Bahrain, JS Bank continues to shape Pakistan's financial future through innovation and inclusivity, solidifying its position as a leading financial institution.

Bahrain's location in the Persian Gulf

Bahrain is an archipelago consisting of Bahrain Island and about 30 smaller islands, located in a bay on the southwestern coast of the Persian Gulf. It is situated between Qatar and the northeastern coast of Saudi Arabia, with Qatar peninsula lying to its east and Saudi Arabia to its west. The country's name, Bahrain, is derived from the Arabic term 'al-baḥrayn', which means 'two seas'.

The total land area of Bahrain is slightly larger than that of Singapore, covering 760 square kilometres (290 sq mi). The country's largest islands are Bahrain Island, the Hawar Islands, Muharraq Island, Umm an Nasan, and Sitra. The main island, Bahrain Island, makes up around 83% of the country's landmass.

Bahrain is connected to Saudi Arabia by the King Fahd Causeway, a 15-mile-long (24 km) causeway that spans the western section of the Gulf of Bahrain. The country's capital, Manama, is located on the northeastern tip of Bahrain Island and is known for its modern and cosmopolitan vibe.

While Bahrain is located in a chief oil-producing region, it has only small stores of petroleum. Instead, its economy relies on processing crude oil from neighbouring countries and has recently seen growth in the financial, commercial services, and tourism sectors.

Bahrain's economy and industry

Bahrain's economy is heavily dependent on oil and gas, with petroleum and natural gas being the country's only significant natural resources. Oil comprises 85% of Bahraini budget revenues, accounting for 60% of export receipts, 70% of government revenues, and 11% of GDP. Bahrain's most exported product is petroleum, with aluminium being the second most exported product, followed by finance and construction materials.

Bahrain has the second-highest-valued currency unit in the world and is recognised by the World Bank as a high-income economy. The country has a liberalised business environment and advanced infrastructure, with a focus on economic freedom to encourage both domestic and foreign investment. Bahrain's finance industry is very successful, with the country being named the world's fastest-growing financial centre in 2008. The country is the main banking hub for the Persian Gulf and a centre for Islamic finance.

Bahrain has a diversified economy compared to other Gulf countries, with non-oil sectors contributing to 79.2% of total GDP. The financial and banking sector is one of the most important non-oil sectors, contributing 16.7% of total GDP. Other important sectors include manufacturing, transport, communications, construction, real estate, and tourism. Bahrain's annual economic growth is 5% on average, with a talented, highly motivated, and skilled workforce.

In recent years, Bahrain has experienced economic growth, with a nominal GDP of USD 46.0 billion in 2023, up from USD 44.3 billion in 2022. Services accounted for 55% of overall GDP in 2021, with manufacturing, other industrial activity, and agriculture making up the remainder. Bahrain's economy has recorded average annual growth of 2.8% in the decade leading up to 2022, with an average inflation rate of 1.7%. The country has a favourable business environment, strategic location, and supportive government, making it an attractive destination for foreign investment.

The country's history and politics

History

Bahrain, officially the Kingdom of Bahrain, is an island country in West Asia situated on the Persian Gulf. It is an archipelago of 50 natural islands and 33 artificial islands, centred on Bahrain Island, which makes up around 83% of the country's landmass. Bahrain is the site of the ancient Dilmun civilization, which was an important Bronze Age trade centre linking Mesopotamia and the Indus Valley. Bahrain was one of the earliest areas to be influenced by Islam, during the lifetime of Muhammad in 628 AD.

Bahrain has been ruled by the Al Khalifa royal family since 1783, with Ahmed al Fateh as Bahrain's first hakim. In the late 1800s, Bahrain became a protectorate of the United Kingdom, and it gained independence in 1971. Bahrain was originally an emirate, but it was declared a semi-constitutional monarchy in 2002.

Politics

Bahrain is a constitutional monarchy headed by the king, Shaikh Hamad bin Isa Al Khalifa, who enjoys wide executive powers. The head of government is the prime minister, currently Crown Prince Salman bin Hamad Al Khalifa. Bahrain has a bicameral National Assembly, consisting of the Shura Council (Majlis Al-Shura) and the Council of Representatives (Majlis Al-Nuwab). The forty members of the Shura are appointed by the king, while the forty members of the Council of Representatives are elected by absolute majority vote.

Bahrain has a small but well-equipped military called the Bahrain Defence Force (BDF), which includes the Bahrain National Guard, tasked with assisting the BDF in defence from external threats. Bahrain has close relations with the United States, hosting a US naval base since the early 1990s. It is also a member of the United Nations, the Arab League, the Gulf Cooperation Council, and other international organisations.

Bahrain's politics have been marked by tensions between the ruling Sunni Muslim Al Khalifa royal family and the majority Shia Muslim population. In 2011, inspired by the Arab Spring, Bahrain's Shia majority started large protests against its Sunni rulers. The government responded with a crackdown on the opposition, including conducting thousands of arrests and systematic torture.

The climate and geography of Bahrain

Bahrain is an arid, flat archipelago in the Persian Gulf, comprising 50 natural islands and 33 artificial islands. The country is centred on Bahrain Island, which makes up around 83% of its landmass. The terrain is mostly low-lying desert plain, with the highest point being the Jabal ad Dukhan mountain at 134 or 135 metres. The country's land area is 760 square kilometres, though land reclamation projects have increased this figure to 780 square kilometres. Bahrain has a hot and humid climate, with very hot summers and mild winters.

Bahrain is situated in the Middle East, in West Asia, and is bordered by Qatar and Saudi Arabia. The islands lie in the Gulf of Bahrain, an inlet of the Persian Gulf, about 24 kilometres off the east coast of Saudi Arabia and 28 kilometres from Qatar. The seabed surrounding the islands is rocky and covered by extensive coral reefs. The landscape is mostly low-lying and barren desert, with outcroppings of limestone forming low hills, cliffs and ravines. The limestone is covered by saline sand, capable of supporting hardy desert vegetation such as thorn trees and scrub. There is a fertile strip along the northern coast where date, almond, fig and pomegranate trees grow. The interior of the island contains an escarpment that rises to form the Jabal ad Dukhan mountain, named for the mists that often surround its summit. Most of the country's oil wells are located here.

Bahrain has a dual-season climate, with extremely hot summers and mild winters. From April to October, afternoon temperatures average 40°C and can reach 46°C in May, June and July. The combination of heat and high humidity makes this season uncomfortable. A hot, dry wind known as the qaws blows sand clouds across the southern end of the island towards Manama in the summer. In winter, from November to March, temperatures range between 10°C and 20°C, though humidity often rises above 90%. From December to March, prevailing winds from the northwest, known as the shamal, bring damp air over the islands.

Bahrain receives little rainfall, with an average annual precipitation of 70.8 to 72 millimetres, usually confined to the winter months. There are no permanent rivers or streams on the islands, and little of the rainwater is saved for irrigation or drinking. However, there are numerous natural springs in the north of Bahrain and on adjacent islands, which have attracted settlers since ancient times. These springs remain an important source of drinking water, though since the 1980s, desalination plants have provided about 60% of daily water consumption.

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