The 1970s civil war in Lebanon prompted an exodus of bankers from Beirut to Bahrain.
Then, Dubai rose to prominence as a competing business hub and the global financial crisis further tarnished the island kingdom’s lustre as a financial services centre.
The chaotic unrest in February, combined with March’s security crackdown, could deal the island’s global ambitions a fatal blow – in spite of a call by King Hamad bin Isa al-Khalifa for a national dialogue and the lifting of effective martial law earlier this month.
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