Bahrain adopted International Accounting Standard 1 (IAS 1) in 1994 within the lack of other standards that are local.

Bahrain adopted International Accounting Standard 1 (IAS 1) in 1994 within the lack of other standards that are local. Bahrain\u2019s industrial sector displays dominance by state-controlled businesses such as for example Aluminum Bahrain (ALBA) and Gulf Petrochemical Industries Company (GPIC).\u00a0 De facto monopolies also occur in a few industries led by people or family-run organizations. […]

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