Again I deal with some people who are narrow-minded and have extreme low exposure and thinking ability. You switched from air show case to banking. You came across my speciality and I have to make a response as a Banker.
à There are several index published in terms of best financial institutions and I can supply many for your review and selection where the credibility of these report is often questionable. This reminds me of the hospitals and medications case in North America.
à While I acknowledge Dubai is a commercial world centre and has relatively more global exposure than Bahrain, it is not an advanced financial centre. In an evidence to that, best stock exchange in the Gulf is in Kuwait, not Dubai. Moreover, there are more banks operating in Bahrain (embracing all types) than in Dubai. In fact, while Bahrain continues to grance licenses to foreign banks to operate in the country, Dubai does not, because authorities there consider Dubai banking system is saturated. (again monopoly to leverage empower banks alike of Emirates monopoly policies). Please read local press today, Bahrain announced granting a permit for an offshore Italian Bank to operate in the country. That of course due to the continuous process of reforms started more than 50 years that is able to attract financial institutions strongly, not the case in Dubai banking system.
à In terms of competence, Dubai is one of best global centres of money laundering and as much as 70% of cash flow comes from that process because of poor legislation and systems. To detail, Bahrain which managed to establish first internet banking in the Gulf (in fact even first internet access in the Gulf) has legislation for anti-money laundering since 1970s. On contrary, Dubai just introduced the legislations in the end of 2003 after heavy criticism that all funding of 11 September terrorists came from banks in Dubai (not from Abu Dhabi, Al-ain, .etc specifically Dubai; please watch aljazeera award wining documentary and read reports of Newsweek and Times magazines) !!
à Successful banks always have excellent outputs, I have two personal contacts of professionals Bahraini bankers headhunted as CEOs in 2 European banks, one is based in Stockholm, Sweden and another in Zurich, Switzerland. I wonder who manage banks in Dubai!
à There are many amazing stories about Dubai's banking and financial system such as Dubai sovereign funds which operate partially on political grounds to make financial gains, alike of the one operated by Kuwait. (An American independent body for monitoring souvenir funds ranked both Dubai and Kuwait as inefficient in control and surveillance few weeks ago).
à When Dubai financial system is poor in basics, it makes wonder about the claim that Dubai has achieved rank 15. It must be -15
à To be very objective, there are many negative aspects that Bahrain needs to change. Middle East Economist Intelligence Unit in UK ( well-know and trusted consultancy body) said a year ago in a report that Bahrain has an advance banking and financial system and aluminium smelter (ALBA) that compete with American and European Banks, but at the same time, it has a backward construction and manufacturing sector that compete with Bangladesh, Pakistan, .etc and needs comprehensive reforms"
I feel a bit amazed of some expatriates living and working in Bahrain and showing contempt to the country and I don't know. I am not against any expatriates, they are very welcome but there is Lebanese say" bedee meno tefo alaih'
Try to clear your grudges.