Bahrain’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape, New Report Launched

The report provides top-level market analysis, information and insights into Bahrain’s cards and payments industry, including:

  • Current and forecast values for each category of Bahrain’s cards and payments industry, including debit cards, credit cards and prepaid cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Bahrain’s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit and prepaid cards used by banks and other institutions in the market
  • Comprehensive analysis of consumer attitudes and buying preferences for cards
  • The competitive landscape of Bahrain’s cards and payments industry

Bahrain has a diversified economy with well-developed infrastructural facilities, and is home to large number of multinational companies in the Middle-East and North Africa (MENA). The government has encouraged investment in the financial service and tourism sectors as part of its economic diversification plans, with special emphasis on Islamic banking. The country has the region’s highest density of Islamic financial institutions, including 24 dedicated banks. As the need for, and awareness levels of, sophisticated banking products and service offerings increase, banks operating in the country are launching new products to retain market share. Consequently, Bahrain’s cards and payments industry recorded healthy growth during the review period (2009–2013).

Credit transfers and check payments were the preferred payment instruments, having a combined industry share of 99.4% in 2013 in terms of transaction value. The share of payment cards increased from 0.4% in 2009 to 0.6% in 2013, as the government and banks are taking initiatives to increase benefits and awareness levels among consumers and merchants.

In terms of the number of cards in circulation, Bahrain’s payment cards – including debit and credit cards – registered positive growth during the review period, recording a compound annual growth rate (CAGR) of 5.49%, increasing from 830,360 cards in 2009 to 1.0 million in 2013. In terms of transaction value, payment cards reached BHD1.1 billion (US$3 billion) in 2013, after registering a CAGR of 17.37%. Similarly in terms of transaction volume, payment cards registered a CAGR of 17.69%, reaching 16.1 million in 2013.

The average transaction value (ATV) in Bahrain was US$185.3 in 2013, which was higher than Saudi Arabia with US$131.3, but lower than other peer countries such as Kuwait, Oman and the UAE. Kuwait recorded the highest ATV with US$319.6, followed by the UAE with US$263.1 and Oman with US$207.4.

In terms of card penetration, Bahrain recorded 0.80 cards per inhabitant in 2013, while the UAE, Kuwait, Oman and Saudi Arabia recorded 1.96, 1.32, 1.03 and 0.69 respectively. In terms of frequency of use, Bahrain recorded 15.6 transactions per card in 2013, while Saudi Arabia recorded 95.3, Kuwait recorded 47.7, the UAE recorded 43.1 and Oman recorded 13.4.

The Bahraini government’s eGovernment project set out to promote electronic payments, improve banking infrastructure, introduce of Sharia-compliant payment cards, and raise consumer awareness of electronic payments, which were the main factors driving the payment card channel’s growth. The adoption of Europay, MasterCard and Visa (EMV) standards – as well as growth in the e-commerce and retail sectors – also supported this growth.

Scope

  • This report provides a comprehensive analysis of Bahrain’s cards and payments industry.
  • It provides current values for Bahrain’s cards and payments industry for 2013, and forecast figures for 2018.
  • It details the different economic, infrastructural and business drivers affecting Bahrain’s cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details the marketing strategies used by various banks and other institutions.
  • It profiles the major banks in Bahrain’s cards and payments industry.

Reasons to Buy

  • Make strategic business decisions using top-level historic and forecast market data related to Bahrain’s cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities within Bahrain’s cards and payments industry.
  • Assess the competitive dynamics in Bahrain’s cards and payments industry.
  • Gain insights in to the marketing strategies used for selling various card types in Bahrain.
  • Gain insights into key regulations governing Bahrain’s cards and payments industry.

Spanning over 81 pages, Bahrain’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” report covering the Key Facts and Top Events, Executive Summary, Payment Instruments, Market Attractiveness and Future Prospects of Cards and Payments, Analysis of Cards and Payments Industry Drivers, Emerging Consumer Attitudes and Trends, Payment Cards, Debit Cards, Credit Cards, Commercial Cards, Regulations in the Cards and Payments Industry, Card Fraud Statistics, Card Issuers, Card Schemes, Prepaid Cards, Appendix. The report covered companies are – National Bank of Bahrain, Ahli United Bank, CrediMax, HSBC Bahrain, Standard Chartered Bank Bahrain, Citibank, American Express, MasterCard, Visa

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Bahrain Takaful Insurance Industry expected to reach BHD102.8 million (US$270.5 million) by 2018; Finds New Report

The report provides in-depth industry analysis, information and insights into the takaful insurance industry in Bahrain, including:

  • The Bahraini takaful insurance industry’s growth prospects by insurance segment and category
  • The current trends and drivers in the Bahraini takaful insurance industry
  • Challenges facing the Bahraini takaful insurance industry

Bahrain is one of six countries that comprise the Gulf Cooperation Council (GCC), the others being Kuwait, Oman, Saudi Arabia, Qatar and the UAE. Its economy is heavily dependent on oil and its by-products; oil accounted for 70% of total government revenues, more than 60% of total Bahraini export receipts and 11% of the country’s GDP in 2013. During the review period (2009–2013), the Bahraini takaful insurance industry grew at a compound annual growth rate (CAGR) of 15.0%. The robust growth of the takaful life and personal accident and health segment supported the growth of takaful insurance during the review period. The introduction of mandatory health insurance in Bahrain in 2012 was a key factor in the growth of the personal accident and health segment during 2009–2013: all employers in Bahrain are required to provide health insurance to employees.

Scope

This report provides a comprehensive analysis of the takaful insurance industry in Bahrain:

  • It provides historical values for the Bahraini takaful insurance industry for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key segments and categories in the Bahraini takaful insurance industry, with forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets and total investment income.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast industry data related to the Bahraini takaful insurance industry and each segment within it.
  • Understand the demand-side dynamics, key trends and growth opportunities in the Bahraini takaful insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.

Key Highlights

  • The Bahrain takaful insurance industry grew from at a compound annual growth rate (CAGR) of 15.0% during the review period (2009–2013). Over the forecast period (2013–2018), it is expected to grow to reach BHD102.8 million (US$270.5 million) at a CAGR of 12.4%
  • The Central Bank of Bahrain (CBB) is responsible for the regulation of the country’s financial services industry, including takaful insurance
  • The Bahraini takaful insurance industry consisted of nine insurers, of which two were retakaful firms, in 2013. There were also 38 conventional insurers licensed to operate insurance activity outside Bahrain and serve other Gulf markets
  • In March 2013, the CBB launched an Insurance Day in collaboration with the Bahrain Insurance Association (BIA)
  • The Bahraini Economic Development Board (EDB) is planning to invest BHD8.4 billion (US$22.0 billion) in various infrastructure projects over the next four years

Spanning over 74 pages, Market Attractiveness and Future Prospects of the Bahraini Takaful Insurance Industry” report covering the Analysis of Bahraini Takaful Industry Dynamics, Takaful Life Insurance Trends, Takaful Non-Life Insurance Trends, Takaful Non-Life Insurance by Category, Takaful Personal Accident and Health Insurance Trends, Takaful Personal Accident and Health Insurance by Category, Takaful Reinsurance, Appendix.

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Bahrain: Converged Services Presents the Most Attractive Opportunity for Telecom Operators, New Report Launched

Bahrain: Converged Services Presents the Most Attractive Opportunity for Telecom Operators a new Report offers a precise, incisive profile of Bahrain’s mobile and fixed telecommunications and mobile markets based on comprehensive proprietary data and insights from our research in the Bahraini market. Published annually, this presentation-quality, executive-level report provides detailed analysis of the near-term opportunities, competitive dynamics and evolution of demand by service type and technology/platform across the fixed telephony, broadband and mobile sectors, as well as a review of key regulatory trends.

Key Findings

  • In 2014, the Bahraini telecom industry will generate an estimated US$848m in service revenue, a 2.8% increase over the previous year. The data segment (mobile and fixed) is the most important growth driver; we expect it to generate $51m more revenue in 2014 than in 2013. The data segment will grow at a CAGR of 8.5% between 2014 and 2019 to reach $656m in 2019, up from $436m in 2014. This reflects the industry’s commitment to providing better connectivity by rolling out more LTE stations and improving fixed-line connectivity.
  • Operators are investing in LTE networks in the hope of increasing their market share. Adoption of 3G technologies in 2013 is at 63% of the mobile subscription base; we project that this will decline to 58% in 2019. This will be due to the increased availability of LTE services. The concentration of population in the major urban area of Manama and the small size of the country mean that LTE coverage in Bahrain is more extensive than in most GCC markets, edging close to 100% of the population for all three operators. LTE subscriptions are expected to reach 1.2m by 2019 or 37% of total mobile subscriptions in Bahrain, the competitive landscape will be dominated by operators’ attempts to capture as much of these as possible. This is likely to lead to falling margins as operators drop their prices and the cost advantages of implementing LTE take time to reach the bottom line.
  • Over the next five years, the mobile data segment will present the most attractive opportunity for operators; we expect it to generate a cumulative $2.2bn in revenue during 2015-2019. Fixed data, on the other hand, will generate $641m over the same time period. To take full advantage of this growth, Bahraini operators are looking to develop their converged offers and are competing fiercely on bundling stronger networks. We expect that customized features of converged offers, and the bundling of traditional voice and data services with new multimedia and IT services, will make them more competitive. Batelco, in particular, is in a good position to cater to the increasing demand for convergence, since it is active in all segments of the telecom sector.

Synopsis

This report provides an executive-level overview of the telecommunications market in Bahrain today, with detailed forecasts of key indicators up to 2019. It delivers deep quantitative and qualitative insight into Bahrain’s telecom market, analyzing key trends, evaluating near-term opportunities and assessing risk factors, based on proprietary data from Publisher’s databases.

The Country Intelligence Report provides in-depth analysis of the following:

  • Regional context: telecom market size and trends in Bahrain compared with other countries in the region.
  • Economic, demographic and political context in Bahrain.
  • The regulatory environment and trends: a review of the regulatory setting and agenda for the next 18-24 months as well as relevant developments pertaining to spectrum licensing, national broadband plans, number portability and more.
  • A demand profile: analysis as well as historical figures and forecasts of service revenue from the fixed telephony (including VoIP), broadband, mobile voice and mobile data markets.
  • Service evolution: a look at changes in the breakdown of overall revenue between the fixed and mobile sectors and between voice, data and video from 2011 to 2019.
  • The competitive landscape: an examination of key trends in competition and in the performance, revenue market shares and expected moves of service providers over the next 18-24 months.
  • In-depth sector analysis of fixed telephony, broadband, mobile voice and mobile data services: a quantitative analysis of service adoption trends by network technology and by operator, as well as of average revenue per line/subscription and service revenue through the end of the forecast period.
  • Main opportunities: this section details the near-term opportunities for operators, vendors and investors in Bahrain’s telecommunications markets.

Reasons to Buy

  • This Country Intelligence Report offers a thorough, forward-looking analysis of Bahrain’s telecommunications markets, service providers and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
  • Accompanying Publisher’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in Bahrain’s mobile communications, fixed telephony/VoIP and broadband markets, including the evolution of service provider market shares.
  • With more than 20 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
  • The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in Bahrain’s telecommunications markets.
  • The broad perspective of the report coupled with comprehensive, actionable detail will help operators, equipment vendors and other telecom industry players succeed in the challenging telecommunications market in Bahrain.

Spanning over 28 pages “Bahrain: Converged Services Presents the Most Attractive Opportunity for Telecom Operators” report Covering Executive summary, Market and competitor overview, Regional context, Regulatory environment, Demand profile, Competitive landscape, Major market players, Segment analysis, Mobile services. This report Covered 4 Companies – • Batelco, Lightspeed, Menatelecom Viva Bahrain, Zain.

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Construction in Bahrain – Key Trends and Opportunities to 2018, New Report Launched

The Bahraini construction industry increased in value at a compound annual growth rate (CAGR) of 1.68% during the review period (2009−2013). This growth was supported by public investments in the infrastructure and residential markets, which are expected to be the main growth drivers over the forecast period (2014−2018). The industry is projected to record a forecast-period CAGR of 8.59%. Industry expansion will also be driven by a population increase, government initiatives to support the growth of high value-add projects, and an expected revival in investor confidence.

This report provides detailed market analysis, information and insights into the Bahraini construction industry including:

  • The Bahraini construction industry’s growth prospects by market, project type and type of construction activity
  • Analysis of equipment, material and service costs across each project type within Bahrain
  • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Bahraini construction industry
  • Analyzing the profiles of the leading operators in the Bahraini construction industry
  • Data highlights of the largest construction projects in Bahrain

Scope

This report provides a comprehensive analysis of the construction industry in Bahrain. It provides:

  • Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Bahrain using construction output and value-add methods
  • Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
  • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
  • Analysis of key construction industry issues, including regulation, cost management, funding and pricing
  • Detailed profiles of the leading construction companies in Bahrain

Reasons To Buy

  • Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts
  • Understand the latest industry and market trends
  • Formulate and validate business strategies using Timetric’s critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Key Highlights

The construction industry in Bahrain is in a stage of recovery after struggling from the lows of 2008–2009 financial crisis and political unrest since 2011. According to the Central Informatics Organization (CIO), in the third quarter of 2013 the Bahraini construction industry’s contribution to GDP accounted for 6.3%. The industry is expected to value BHD3.4 billion (US$8.8 billion) in 2018, with growth largely supported by heavy investments in infrastructure and housing projects. A number of other major projects are either in the planning stage or under construction, such as the Gulf rail line development, airport expansion plans, infrastructure for three new cities, investment in power and water projects, a public transport network due in 2030, and a new state-of-the-art exhibition center.

Construction growth will also be driven by the Bahrain Economic Vision 2030, through which the country is looking to become a developed nation by diversifying its economy, achieving sustainable development and providing a high standard of living for its population. The Economic Development Board (EDB) has initiated a program to formulate the first national economic strategy. To accomplish this, both public and private funds will be required to maintain and develop infrastructure. In January 2014, the government also announced plans to spend BHD835.5 million (US$2.2 billion) to enhance power facilities. This project will be a part of a BHD3.8 billion (US$10.0 billion) Gulf Corporation Council (GCC) fund allocated for the improvement of infrastructure.

To diversify its economy from oil, the government is actively pursuing its Economic Vision 2030 which marks industrialization, diversification and privatization as growth opportunities. The government is making efforts to attract foreign investors and increase the participation of private investors in other economic sectors than oil. Efforts to diversify the economy will create opportunities for the construction industry.

Bahrain is a part of a large rail network development plan covering countries in the GCC. The 2,177km network will stretch from Kuwait to Oman. The BHD9.5 billion (US$25.0 billion) project will link Kuwait City, Dammam in Saudi Arabia, Manama in Bahrain, Doha in Qatar, Abu Dhabi and Al Ain in the UAE, and Sohar in Oman. Construction is likely to start in 2014 and is expected to be complete in 2018. The project also comprises the construction of a causeway linking Saudi Arabia and Bahrain, boosting intra-regional trade through freight and passenger travel.

In its 2013 draft budget, the government proposed the allocation of 10.6% of its total capital expenditure, valuing BHD114.8 million (US$302.3 million) towards social projects. It includes the development of housing, healthcare, educational and vocational training and social welfare projects.

In the third quarter of 2013, the housing ministry allocated BHD3.0 billion (US$8.0 billion) towards the construction of new housing. It includes the construction of the first phase of the Durrat Marina, the second phase of the Wahat Al Muharraq and a new 128 villa project at Durrat Al Areen. The residential market in Bahrain will, therefore, record an increase in the number of housing projects over the forecast period.

Spanning Over 68 pages, 81 tables, 31 figures, “Construction in Bahrain – Key Trends and Opportunities to 2018” report covering the Market Overview, Commercial Construction, Industrial Construction, Infrastructure Construction, Institutional Construction, Residential Construction, Company Profile: Nass Corporation BSC, Company Profile: The Ahmed Mansoor Al A’ali Group of Companies, Company Profile: Arabian Dredging Company WLL, Company Profile: Alwardi Group, Company Profile: Inovest BSC, Market Data Analysis, Appendix. The report covered 4 companies – Nass Corporation BSC, The Ahmed Mansoor Al A’ali Group, Arabian Dredging Company WLL, Alwardi Group, Inovest BSC

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