Bahrain

The Kingdom of Bahrain is a tiny Arab nation sitting on the southwestern coast of the Persian Gulf. This island country consists of Bahrain Island, 33 natural islands, and additional 50 man-made islands. It is strategically positioned between the Qatari Peninsula and the northeastern part of Saudi Arabia to which it is linked by the King Fahd Causeway. With an area of 760 square kilometers, Bahrain is the third-smallest country in Asia.

 
Since the ancient years, Bahrain has been the center of trade and the provider of natural resources for its neighboring nations. These resources include natural gas, oil products, and fish. The country is also popular for its lush groves of date palms. It is one of the most diverse economies in the region with highly developed transport and communication infrastructure. Its economy relies heavily on oil, with petroleum production and refining making up over 60% of the country’s exports and 11% of its GDP. Next to oil, aluminum production, finance, and construction are major drivers of Bahrain’s economy. The nation’s diversification programs include the signing of a Free Trade Agreement with the United States in August 2006. In 2009, Bahrain also made efforts to lower unemployment among Bahrainis by increasing foreign labor costs and reducing expatriate workers.

 
Bahrain’s official currency is the Bahraini dinar which has been around since 1965. It replaced the Gulf rupee at 10 rupees to 1 dinar and is divided into 1000 fils. It is one of the strongest circulating currencies in the world. Bahrain’s first banknotes were issued by the Bahrain Currency Board on October 16, 1965. These notes share the same obverse design featuring dhows and the coat of arms of Bahrain.

 
In 2006, the Central Bank of Bahrain was established and issued its first series of banknotes which is the fourth series of the country. These paper bills depict modern development and the nation’s heritage. Upgraded versions of the 10 and 20 dinar bills were released on September 4, 2016, bearing enhanced security features such as SPARK and Motion thread as well as tactile lines that aid the sight-impaired distinguish among denominations. 
 

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