Market research on awareness of banking and investment services for Indian and Pakistani high-net-worth individuals and its implications for banks in Bahrain

Abstract

Abstract : Expatriates make up a sizeable population of Bahrain. According to an official of the Central Statistics Organization, Indian and Pakistani expatriates together are the majority of foreigners working in Bahrain. Both Indians and Pakistanis working in Bahrain have more or less common goals of earning and saving as much as possible while they are in Bahrain. Among the Indians and Pakistanis, there are a relatively fewer individuals who are earning beyond BD 1,000 or more per month whom we have chosen to term as "High Net-worth Individuals" or simply HNIs. This, in turn, means that this particular segment of the Indian-Pakistani expatriate community has certain specific banking and investment needs and preferences. This research attempts to determine the level of awareness, usage, and quality of such services and identify the nature and range of additional services desired by the HNIs.