State of Bahrain

The State of Bahrain (Arabic:دولة البحرين‎ Dawlat al-Baḥrayn) was the name of Bahrain between 1971 and 2002. On 15 August 1971, Bahrain declared independence and signed a new treaty of friendship with the United Kingdom. Bahrain joined the United Nations and the Arab League later in the year. The oil boom of the 1970s benefited Bahrain greatly, although the subsequent downturn hurt the economy. The country had already begun diversification of its economy and benefited further from Lebanese Civil War in the 1970s and 1980s, when Bahrain replaced Beirut as the Middle East's financial hub after Lebanon's large banking sector was driven out of the country by the war.