Financial hub in the context of "Private debt"

Manama (Arabic: الْمَنَامَة al-Manāma, Bahrani pronunciation: [elmɐˈnɑːmɐ]) is the capital and largest city of Bahrain, with an approximate population of 297,502 as of 2012. Long an important trading center in the Persian Gulf, Manama is home to a diverse population. After periods of Portuguese and Persian control and a short invasion from the ruling dynasty of Saudi Arabia, followed by a longer invasion by Oman, Bahrain established itself as an independent nation in 1971 following a period of British hegemony.

Manama has a history spanning several centuries. First mentioned in Islamic texts as early as the 14th century, Manama remained a small trading port until it came under Portuguese control in the early 1500s. In 1602, the Safavid Persians expelled the Portuguese, and Manama became a regional center for commerce and pearling. By the late 19th century, it had grown significantly due to trade and was declared the capital of Bahrain in 1971 when the country gained independence from British protection. Since then, Manama has evolved into a modern financial hub in the Persian Gulf region.

Doha (/ˈdoʊhɑː/; Arabic: الدوحة, romanized: ad-Dawḥah [ædˈdæwħæ,-ˈdoː-]) is the capital city and main financial hub of Qatar. Located on the Persian Gulf coast in the east of the country, north of Al Wakrah and south of Al Khor and Lusail, it is home to most of the country's population. It is also Qatar's fastest growing city, with over 80% of the nation's population living in Doha or its surrounding suburbs, known collectively as the Doha Metropolitan Area.

Doha was founded in the 1820s as an offshoot of Al Bidda. It was officially declared as the country's capital in 1971, when Qatar gained independence from being a British protectorate. As the commercial capital of Qatar and one of the emergent financial centers in the Middle East, Doha is considered a beta-level global city by the Globalization and World Cities Research Network. Metropolitan Doha includes parts of Al Rayyan such as Education City, an area devoted to research and education, and Hamad Medical City, an administrative area of medical care. It also includes Doha Sports City, or Aspire Zone, an international sports destination that includes Khalifa International Stadium, Hamad Aquatic Centre; and the Aspire Dome.