IslamicFinance.de

Al Wefaq Islamic Society, led by Shaikh Ali Salman, explicitly sought to achieve its political goals by putting Bahrain's leadership in an economic stranglehold. Al Wefaq failed but this organisation has cost Bahrain a lot in purely financial terms. Money was wasted on policing, rebuilding vandalised property and compensating those harmed by the unrest. The economic growth slowed down to a record low of -6.6pc in March 2011. It is estimated that the total loss to Bahrain is in the region of $3bn to $5bn. This, however, fails to reflect the sufferings of small businessmen and their families who have lost everything. Other damage done by Al Wefaq cannot be quantified, such as the economic impact when commercial banks permanently relocate to Malaysia or Dubai, and the damaged reputation.