Editorial: The Holding Family
2022-12-08 - 11:06 am
Bahrain Mirror (exclusive): In the economic world, a holding company is a company that controls several other companies through capital. Its activity is limited to owning shares in the capital of other companies.
What is the ruling family doing in Bahrain? It acts as if it is a holding company, but essentially without capital. It accomplishes this by squatting, i.e. by bullying. The ruling family has the upper hand in all spaces. The free spaces in the press are in its hands. The free economic spaces are in its hands. The free spaces of the judiciary are also in its hands, and the free spaces of the Parliament are in its hands as well.
It was not satisfied with only having the Mumtalakat Holding Company, but rather seized everything by virtue of having conquered the land by invasion, securing it in its grip.
Holding companies manage their influence with the capital they pump, so they gain influence, power and control and secure their grip, so their activity is legitimate since they receive as much as they pay, just as is the law of the market, and buying and selling. The ruling family; however, pays nothing and takes over everything. This is an illegal process that can be described as corruption, piracy or theft.
Mumtalakat Holding Company is the sovereign wealth fund of the Government of the Kingdom of Bahrain. Is it called sovereign? Yes, but no one other than the ruling family has sovereignty over it. Its name refers to the state's sovereignty over it, meaning that it is free from the control of powerful individuals and influential families. Yet, in fact, the Mumtalakat fund gains its name from the family's ownership and control over it and its grip on its assets, among the most important of which are land plots. Who controls these estates, steals them, and distributes them as war booty? It's the holding family. Hence, a worrisome question poses itself, what will become of the homeland if it is governed by a family holding company? This is what our dossier of upcoming reports will answer.