Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, is raising $1.5 billion in bank debt to refinance loans it obtained in 2016 to back its Line 6 expansion project, two sources familiar with the matter said.

Personal loans from local banks to individuals and private and public institutions increased by 685 million dinars by the end of the first half of this year on an annual basis.

Sources say Bahrain has raised $500m from a private placement of bonds with five regional banks, reported Arabian Business.