Mark Greenwood, the Chartered Insurance Institute’s Middle East and North Africa representative based in Bahrain, said the demonstrations, which began following unrest in Egypt and the subsequent toppling of President Hosni Mubarak earlier this month, had prevented many from travelling to work.
“The main roads through the capital are blocked off so people working downtown cannot physically get to the office, a lot of the schools are not operating either so families are at home,” said Greenwood. “I have been working from home since the unrest started.”
“Most of the insurance companies will be closing offices at around 1pm so they are off the roads when the marches begin. Everybody is completely distracted by what is happening.”
A spokesperson for Middle East advisory firm Nexus, which has an office in Bahrain, also said the demonstrations were having a detrimental impact on business, as advisers struggle to travel to and from work and around the capital.
“Our first priority is the safety of our staff,” said the spokesperson. “While we have not been physically closing our office early due to the demonstrations, we are aware of others who are doing so.”
Last night it was announced that the Bahrain Grand Prix, the first race of the Formula One racing season, has been cancelled due to the continued protests. Greenwood said, while the actual revenue loss of cancelling will be negligible, the damage to Bahrain’s reputation could be significant.
The unrest in Manama, the capital of the Kingdom of Bahrain, has been directed at the Kingdom’s rulers, with protesters calling for the country to adopt a democratic political system, although there have also been some pro-royalist demonstrations.
The country is currently ruled by King Shaikh Hamad bin Isa Al Khalifa and has a government, headed by Prime Minister Shaikh Khalîfa bin Salman al Khalifa, the majority of which are part of the royal family.
