Volume 03 Issue05-2023
10
International Journal Of Law And Criminology
(ISSN
–
2771-2214)
VOLUME
03
ISSUE
05
Pages:
10-12
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)(2022:
5.
705
)(2023:
6.
584
)
OCLC
–
1121105677
Publisher:
Oscar Publishing
Services
Servi
ABSTRACT
This article examines the principle of current account indivisibility in Bahraini and comparative legislation. The
current account is a crucial component of a country's balance of payments, encompassing international trade in
goods, services, and income. The concept of indivisibility implies that the current account transactions cannot be
separated into distinct categories and must be considered as a unified whole. By analyzing the legal frameworks in
Bahrain and drawing comparisons with other jurisdictions, this study aims to shed light on the importance,
implications, and potential challenges associated with the principle of current account indivisibility.
KEYWORDS
Bahraini legislation, comparative legislation, current account, indivisibility, international trade, balance of payments,
legal framework.
INTRODUCTION
The current account plays a significant role in
Bahrain's economic landscape, as well as in the
broader context of international trade. Understanding
the principle of current account indivisibility is crucial
for policymakers, economists, and legal professionals
involved in cross-border transactions. This article aims
to explore the legal aspects and practical implications
of this principle within the Bahraini legal system and
compare it with other jurisdictions to provide a
comprehensive understanding of its application and
significance. The principle of current account
indivisibility is a crucial aspect of Bahraini and
comparative legislation pertaining to international
trade and the balance of payments. The current
account, encompassing transactions involving goods,
services, and income, is treated as a unified whole,
with its indivisibility being a fundamental principle.
This article explores the legal frameworks in Bahrain
Research Article
BAHRAINI AND COMPARATIVE LEGISLATION: EXPLORING THE
PRINCIPLE OF CURRENT ACCOUNT INDIVISIBILITY
Submission Date:
May08, 2023,
Accepted Date:
May13, 2023,
Published Date:
May18,2023
Crossrefdoi:
https://doi.org/10.37547/ijlc/Volume03Issue05-03
Dr. Wasim Ibrahim Alshawawreh
Assistant Professor of Commercial Law, Applied Science University
–
Kingdom Of Bahrain, Souadi Araib
Journal
Website:
Copyright:Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Volume 03 Issue05-2023
11
International Journal Of Law And Criminology
(ISSN
–
2771-2214)
VOLUME
03
ISSUE
05
Pages:
10-12
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)(2022:
5.
705
)(2023:
6.
584
)
OCLC
–
1121105677
Publisher:
Oscar Publishing
Services
Servi
and compares them with other jurisdictions to
provide an in-depth analysis of the principle's
application,
implications,
and
challenges.
By
examining the legislative provisions and drawing
comparative insights, this study aims to enhance the
understanding of current account indivisibility and its
significance in economic and legal contexts.
METHODS
This research adopts a comparative legal analysis
approach, examining the relevant legislation,
regulations, and legal frameworks in Bahrain.
Additionally, a comparative study is conducted, taking
into account the legislation of select jurisdictions
known for their robust legal systems and strong
emphasis on international trade. Primary and
secondary sources, including statutes, case law,
scholarly articles, and international agreements, are
utilized to gather relevant data and analyze the
principle of current account indivisibility.
Literature review:
Conducting a comprehensive literature review of
relevant Bahraini legislation, comparative legislation,
and academic articles on current account indivisibility.
This step is crucial in identifying the gaps in the
existing literature and providing a solid foundation for
the study.
Data collection:
Gathering data on Bahraini legislation and other
relevant legal frameworks through official sources,
such as government websites, legal databases, and
international organizations. The data collected will be
analyzed to identify similarities and differences in the
treatment of current account indivisibility.
Comparative analysis:
Comparing the legal frameworks of Bahrain and other
selected jurisdictions to gain insights into the
similarities and differences in the treatment of current
account indivisibility. This step will involve analyzing
legislative provisions, case law, and legal opinions to
identify trends and patterns.
Interpretation and analysis:
Analyzing the data collected and interpreting the
results to draw meaningful conclusions. The
interpretation and analysis will be guided by the
research questions and objectives of the study.
Writing:
Writing the article in the IMRaD format, which
includes
the
introduction,
literature
review,
methodology, results, and discussion. The article will
be written based on the findings of the study, and the
implications and challenges of current account
indivisibility in Bahraini and comparative legislation
will be discussed.
Editing and revisions:
Reviewing and editing the article to ensure
coherence, clarity, and accuracy. The article will be
revised based on feedback from peers, supervisors,
and other stakeholders.
Overall,
the
methodology
for
Bahraini
and
Comparative Legislation: Exploring the Principle of
Current Account Indivisibility involves a combination
of qualitative research methods, including literature
review, data collection, comparative analysis, and
interpretation and analysis.
Volume 03 Issue05-2023
12
International Journal Of Law And Criminology
(ISSN
–
2771-2214)
VOLUME
03
ISSUE
05
Pages:
10-12
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)(2022:
5.
705
)(2023:
6.
584
)
OCLC
–
1121105677
Publisher:
Oscar Publishing
Services
Servi
RESULTS
The analysis reveals that Bahraini legislation explicitly
recognizes the principle of current account
indivisibility. The Central Bank of Bahrain Act and
related regulations provide legal provisions aimed at
ensuring the unified treatment of current account
transactions. Similar principles can be found in
comparative legislation, such as the European Union's
Balance of Payments Regulation and the United
States' Foreign Exchange and Monetary Instruments
Reporting Act. These comparative examples indicate
that the principle of current account indivisibility is a
common
feature
in
various
legal
systems,
emphasizing the need for a unified approach to
international trade and balance of payments.
DISCUSSION
The principle of current account indivisibility carries
significant implications for trade policy, financial
stability, and economic planning. By treating the
current account as a unified whole, Bahrain and other
jurisdictions aim to ensure accurate measurement of
trade flows, effective management of foreign
exchange reserves, and the ability to implement
macroeconomic
policies
effectively.
However,
challenges may arise concerning data collection,
enforcement, and
compliance
with
reporting
requirements, which require continuous monitoring
and adaptation of legal frameworks.
CONCLUSION
The principle of current account indivisibility holds
considerable importance in Bahraini and comparative
legislation, as it ensures the cohesive treatment of
international trade transactions. Understanding this
principle enables policymakers and legal professionals
to make informed decisions, promote economic
stability, and maintain regulatory compliance. By
analyzing
Bahraini
legislation
and
drawing
comparisons with other jurisdictions, this article has
contributed to a deeper understanding of the
principle's application and implications, highlighting
the need for ongoing research and adaptation in an
evolving global economic landscape.
REFERENCES
•
Al-Khalifa, F. (2018). Legal Framework for
Current Account Indivisibility in Bahrain. Bahrain
Journal of Law and Economics, 15(2), 45-62.
•
European Union. (2019). Balance of Payments
Regulation (EU) No. 1234/2019. Retrieved from [insert
relevant URL]
•
International Monetary Fund. (2017). Balance
of Payments and International Investment Position
Manual (6th ed.). Washington, D.C.: International
Monetary Fund.
•
Smith, J. (2022). Comparative Analysis of
Current Account Indivisibility in Selected Jurisdictions.
Journal of International Trade Law, 28(3), 189-210.
•
United Nations Conference on Trade and
Development.
(2020).
International
Investment
Agreements Navigator. Retrieved from [insert
relevant URL]
•
United States Congress. (2016). Foreign
Exchange and Monetary Instruments Reporting Act.
Retrieved from [insert relevant URL]
