For the second year in a row, Bahrain has been named the GCC's leading Islamic finance market and second out of 92 countries worldwide. This is according to the Islamic Corporation for the Development of the Private Sector-Thomson Reuters Islamic Finance Development Indicator (IFDI). As well as being highly-ranked in terms of the kingdom's commitment to research and training and local awareness of the industry, Bahrain was also ranked as having the best governance in Islamic finance in the world. The report praises the well-established regulatory framework covering all sectors, and high levels of disclosure. The IFDI is a measure of five key components to evaluate Islamic finance in 92 countries - quantitative development, governance, corporate social responsibility, knowledge and awareness.