Bahrain Remittance Market Outlook to 2027F

Bahrain Remittance Market Outlook to 2027F - By International (Inbound & Outbound Remittance), By Banking and Non-Banking Channel, By Inflow & Outflow Remittance Corridors, by Domestic remittance flow corridor

Region:Middle East


Product Code:KROD85

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Published on

December 2022

Total pages


About the Report

About the Report

The report provides a comprehensive analysis of the remittance Industry in Bahrain. The report covers an overview and genesis of the industry, and market size in terms of revenue. Its market segmentations include by types of flow, by channels and others. Growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario & Market Share. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

Bahrain Remittance Market is moderately concentrated and in the growth stage. The market includes both formal and informal payment service providers including banks, money transfer operators, mobile wallets, postal networks. The market has been fueled the increasing inflow of expatriates, digitization, e-wallets, increasing internal migration and major government investments. The market has displayed steady growth in terms of transaction value supported by an increase in both inbound and outbound remittances. The total transaction value expanded displaying a CAGR of close to ~%. This was majorly fueled by a rise in the outbound remittances, which is led by a stronger growth in the employment prospects. Moreover, the rising fuel prices is also a supportive factor for such growth of remittances in the region.

  • Growth in mobile-based payment channels and cross-border transactions and deduction in remittance transfer time & cost propels the growth of the market.
  • Adoption of digital remittance is projected to reduce the dependency on cash agents in both the sending and receiving countries, who currently contributes to sustaining high transaction fees.
  • The three largest immigrants’ groups in Bahrain are from India, Bangladesh and Egypt.

Key Trends by Market Segment

By Channel: Inbound remittance in international remittance market has accounted for a significant portion of overall transaction volume owing to inflow of remittance from other countries to Bahrain. The growing number of expatriates from other countries in quest of better employment prospects and higher pay has contributed to the growth of the remittance sector. During 2017, inward remittances accounted for ~% (USD ~million) of total transaction volume.

By Point of Contact:
The inbound remittance market is dominated by branch pick-ups and mobile & online transactions equally followed by prepaid cards in terms of remittance transaction volume.

Competitive Landscape

The Bahrain Remittance market is moderately concentrated with majority of the market being captured by MTOs & Banks. Some of the major companies in the market namely Western Union, MoneyGram, Al Barka Bank etc. Major competing parameters for the entities include fees charged, transfer speed, services offered, reach of the service providers, payout networks, and trust value attached, technological advancements, promotional offers and transparency in costs.

Future Outlook

The inbound remittance is expected to showcase a CAGR close to ~% and the outbound remittance is anticipated to showcase a CAGR close to ~% by value of transactions USD ~Mn. The government's infrastructure development operations are likely to enhance job possibilities in the country in the upcoming years. The majority of these positions are likely to be in the country's flourishing private sector, resulting in a considerable rise in the number of expatriates in the country. This will undoubtedly have a significant impact on rising remittance inflows and outflows, which are highly influenced by the country's expatriate community. The domestic remittance sector will also see a rise in the future with the increasing digital money transfer company.

Scope Of The Report

Scope of the Report

The scope of the study is currently focused on Bahrain Remittance Market. The report covers aspects such as market segmentation (by channels used, by sending and receiving countries, by inbound remittance point of contact and by top flow corridors) Extensive focus has been placed in quantifying the transaction value and volume.

By Type of Flow

  • In-Bound
  • Outbound


On the Basis of Channels (Volume of Transactions)

  • Banking channels
  • MTOs
  • M-Wallets
  • Others


On the Basis of Inflow Countries (By Value of Transactions)

  • India
  • Pakistan
  • Bangladesh
  • Sri Lanka
  • Egypt
  • Indonesia


On the Basis of Channels (Volume of Transactions)

  • Banking channels
  • MTOs
  • M-Wallets
  • Others


On the Basis of Outflow Countries (By Value of Transactions)


  • India
  • Pakistan
  • Bangladesh
  • Sri Lanka
  • Egypt
  • Indonesia


By Point of Contact (By Volume)

  • Branch Pick-up
  • Mobile Payment & Online Transactions
  • Prepaid Cards


By Domestic remittance Flow Corridor (Value of Transactions)

  • Urban to Rural
  • Urban to Urban
  • Rural to Urban

By Channel Used (Value of Transactions)

  • Banking Channel
  • ADLAs & MTOs
  • Retailers
  • Others


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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Banks
  • Money Transfer Operators
  • M-Wallet Companies
  • Hawalas
  • Convenience and Retail Stores
  • Supermarket Chains
  • Bills and Payments Companies
  • Investors & Venture Capital Firms
  • Government Bodies

Time Period Captured in the Report

  • Historical Period: 2017-2022
  • Base Period: 2022P
  • Forecast Period: 2022-2027F


Major Companies Profiled in the Report

  • Western Union
  • RIA Money Transfer
  • MoneyGram
  • Al Bakra Bank Group.
  • Gulf International Bank.
  • Investcorp.
  • Bank of Bahrain and Kuwait.

Table of Contents

Table of Contents

1. Executive Summary

2. Bahrain Remittance Market Overview

2.1 Taxonomy of Bahrain Remittance Market

2.2 Industry Value Chain

2.3 Ecosystem

2.4 Government Regulations/Initiatives for Bahrain Remittance Market

2.5 Growth Drivers of Bahrain Remittance Market

2.6 Issues and Challenges of Bahrain Remittance Market

2.7 Impact of COVID-19 on Bahrain Remittance Market

2.8 SWOT Analysis

3. Bahrain Remittance Market Size, 2017 – 2022

4. Bahrain Remittance Market Segmentation

4.1   By Product Type, 2017 - 2022

4.2 By Application, 2017 - 2022

4.3 By Regional Split (North/East/West/South/Central), 2017 - 2022

5. Competitive Landscape

5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

5.2 Strategies Adopted by Leading Players

5.3 Company Profiles – (Top 5 - 7 Major Players)

5.3.1 Western Union

5.3.2 RIA Money Transfer

5.3.3 MoneyGram

5.3.4 Al Bakra Bank Group

5.3.5 Gulf International Bank

5.3.6 Invest Corp

5.3.7 Bank of Bahrain and Kuwait

6. Bahrain Remittance Future Market Size, 2022 – 2027

7. Bahrain Remittance Future Market Segmentation

7.1   By Product Type, 2022 - 2027

7.2 By Application, 2022 - 2027

7.3 By Regional Split (North/East/West/South/Central), 2022 - 2027

8. Analyst Recommendations

9. Research Methodology

10. Disclaimer

11. Contact Us

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Research Methodology

Research Methodology

Step 1: Identifying Key Variables: Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step 2: Market Building: Collating statistics on remittances over the years. We will also review central bank statistics to understand outbound and inbound inflow of remittances and amount which can ensure accuracy behind the data points shared.

Step 3: Validating and Finalizing: Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step 4: Research output: Our team will approach multiple banks providing channels and understand nature of market, population and other parameters, which will support us validate statistics derived through bottom to top approach from the responses.

Frequently Asked Questions

Frequently Asked Questions

What is the Study Period of this Market Report?

The Bahrain Remittance Market is covered from 2017-2027F in this report, which includes a forecast for the period 2022-2027F.

What is the Future Growth Rate of the Bahrain RemittanceMarket?

The Bahrain Remittance Market is expected to witness a CAGR of about ~% over the next 5 years.

What are the Key Factors Driving the Bahrain Remittance Market?

The increasing inflow of expatriates, digitization, e-wallets, increasing internal migration and major government investments are the growth drivers of the Bahrain Remittance Market.

Which is the largest channel (volume) segment within the Bahrain Remittance Market?

Banking channel segment held the largest market share of the Bahrain Remittance market.

Who are the Key Players in Bahrain Remittance Market?

Western Union, MoneyGram, Al Barka Bank are some of the key players in the market.

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