Dr. Subhadra Ganguli is an Associate Professor of Economics at Ahlia University in Bahrain. She holds a Ph.D degree in Economics from University of California in Riverside, USA. Dr. Ganguli has a wide ranging experience in academic teaching, research and consulting in Economics and Quality Assurance for the last 20 years in India, USA and Bahrain.  She has worked for 10 years (2004-2014) at the Bahrain Institute of Banking and Finance (BIBF) in various capacities, her last position being the Head of Centre for Banking.


Dr. Ganguli is interested in working on GCC and its economic union, currency unions, Free trade agreements and their impacts on the GCC, international business related to macroeconomics and econometrics.

Dr Subhadra Ganguli Research



Dr. Ganguli teaches Monetary and Financial Economics, Public Finance, Econometrics, International Trade to undergraduate students and International Business and MNCs to MBA students.



Undergraduate and Postgraduate Students



  1. The Impact of Mergers and Acquisitions on Financial Performance of Banks in Bahrain during 2015-16 Bushra Abdulwahab and Subhadra Ganguli (2017) Information Management and Business Review, Vol.9, Issue 4, pp: 35-44

  2. Impact of CSR on Consumer Behavior of Bahraini Women in Cosmetics Industry Subhadra Ganguli and Fatema YunisWorld Journal of Entrepreneurship Management and Sustainable Development (WJEMSD), Vol 13, Issue 3, July 2017, Emerald Publishing

  3. Strategic priorities for exploiting Bahrain’s medical tourism potential Ahmed Husain Ebrahim and Subhadra Ganguli (2017) Journal of Place Management and Development, Emerald Publishing, Vol 10, Issue 1

  4. A Qualitative Analysis of Singapore’s Medical Tourism Competitiveness, Subhadra Ganguli and Ahmed Husain Ebrahim, Tourism Management Perspectives,DoI: 10.1016/j.tmp.2016.12.002, Elsevier Publishing, (WJEMSD), Volume 12, Issue 4, 2016, Elsevier Publishing.

  5. An Economic Analysis of the Sustainability of a Potential GCC Economic and Monetary Union During 2005-2014, Subhadra Ganguli (2016), World Journal of Entrepreneurship, Management and Sustainable Development (WJMESD), Emerald Publishing , Volume 12, Issue 3, pp. 194-206

  6. A Sample Survey Analysis of the Effectiveness of Training and Development Initiatives in Bahrain’s Financial Sector on Employability of Bahraini Nationals in 2015, Subhadra Ganguli and Reem Mattar (2016), World Journal of Entrepreneurship Management and Sustainable Development (WJEMSD), Volume 12, Issue 4.

  7. Returns to Scale, Environmental Regulation and Ambient Charges in a Cournot Duopoly, Subhadra Ganguli and Prof. Sudhakar Raju (May, 2013), Technology and Investment DOI: 10.4236/ti.2013.42014, Volume 4; Issue 2, pp. 113-122


  • Perverse Environmental Effects of Ambient Charges in a Bertrand Duopoly, Subhadra Ganguli and Prof. Sudhakar Raju (August, 2012), Journal of Environmental Economics and Policy, DOI: 10.1080/21606544.2012.714972; Vol 1, Issue 3.



September 2015

Presented a seminar titled “Bahrain’s Future Potential in an Integrated GCC Market” at Rotary Club of Salmaniya, Kingdom of Bahrain

May 2015

  • The National Qualifications Framework (NQF) Training Session including Mapping Qualifications to the NQF. Conducted by Margaret Cameron, B.A., PgDCG, MSc, FHEA
  • Attended Ph.D. Without Residence Doctoral Programme, conducted by Brunel University

Mar 2015

Completed “Bloomberg Terminal Training” course including Excel templates, data export and various aspects of single stock analysis (e.g. historical prices, fundamental analysis, etc.)

Dec 2014

  • Attended UNCTAD Workshop on FDI Trends and Methodology in Collecting Data on FDI and TNC Activities in the six GCC countries, organised by MENA Centre for Investment,
  • Kingdom of Bahrain and Division on Investment and Enterprise, United Nations Conference on Trade and Development UNCTAD.
  • Completed the certificate for enrolment into Academy of Supervisors by Brunel University, London at Ahlia University, Kingdom of Bahrain during December 1-4, 2014.

Mar 2014

  • Attended Euromoney Conference on First GCC Financial Forum in Kingdom of Bahrain
  • Panelist on EDB-BIBF seminar on “Diversification of Bahrain Economy – Recent Trends”  with Dr. Jarmo Kotilaine, Chief Economist, EDB, Mr. Mohammed Dito, Advisor to the CEO, LMRA

Dec 2013

Attended World Islamic Banking Conference in Kingdom of Bahrain

Nov 2013

  • Attended annual dinner hosted by ABANA (Arab Bankers’ Association of North America)
  • Attended C3 Summit in New York, invited by Trade Representative of Bahrain in New York
  • Panel member “How Will the Post Crisis Economic Order Look Like?” along with Khalid

Hamad, Executive Director of Banking Supervision (CBB); Dr. Jarmo Kotilaine, Chief Economist, Economic Development Board, Dr. Wichai Turangpon, Chief Economist, Arab Banking Corporation, organized by Inter-Arab Cambist Association (ICA)

Oct 2013

Panel speaker at Economic Development Board seminar “Bahrain’s Competitiveness 2013”


  • Moderated panel discussion “Financial Toolkit for SME’s” in “GCC Future Entrepreneurs” conference. (May 2012)
  • Attended “GCC Private Banking Conference” organized by Euromoney (Mar 2012)
  • Attended CBB organized conference with UNCTAD “The Global Financial and Economic Crisis – What Next” (Jan 2012)

Nov 2011

Attended “Increasing access to credit in the MENA through effective financial infrastructure” organized by MENA Centre for Investment, IFC, CBB and Arab Monetary Fund

Jul 2011

Attended “The World Investment Report” organized by MENA Centre for Investment and UNCTAD

Oct 2011

Organized and attended “SMEs’ role in Job Creation in the MENA Region” in collaboration with the MENA Centre for Investment

Feb 2011

Attended “Quality Education and Training: Towards a Better Future” organised by Quality Assurance Agency for Education and Training, Bahrain

Mar 2010

3rd Annual Middle East Risk Management Forum, Bahrain


  • AAOIFI – World Bank Annual Conference on Islamic Banking and Finance (Dec 2009)
  • Organised and attended BIBF-PRMIA Bahrain Chapter seminar by Mr. Abayomi Alawode,

Advisor to the Financial Stability Directorate, CBB on “Identification and Analysis of Risks to Financial Stability” (Nov 2009)

  • Organised and attended PRMIA Bahrain Chapter seminar by Prof. Sudhakar Raju on “Financial Contagion, Systemic Risk and the Credit Crisis” (Oct 2009)

Nov 2008

  • Organised and attended “Financial Stability Seminar” addressed at CEOs and CFOs
  • Organised and attended the 2008 “International Risk Seminar” addressed at CEOs and CROs (Chief Risk Officers). Organised the launch of PRMIA Bahrain Chapter at the event.

Jun 2002

  • Graduate Student Assistant for the Second World Congress of Environmental and Resource Economists at Monterey, California, USA. Involved in organising and assistance.
  • “Pollution Havens in Mexico? An Econometric Analysis of the Relocation of Companies from the US to Mexico Before and After NAFTA” – Ongoing work presented at the Instituto Nacional de Ecologia (INE) of the Government of Mexico at Mexico City, Mexico
  • “Pollution Havens in Mexico? An Econometric Analysis of the Relocation of Companies from the US to Mexico Before and After NAFTA” – presented at the Department of Economics in the Metropolitan Autonomous University at Azcapotzalco (UAM-A), Mexico City, Mexico.

Mar 2002

  • Invited participant to the Workshop on Pollutant Release and Transfer data in North America: Experiences and Future Opportunities in the Academic Community, organised by the Center for Environmental Cooperation (CEC) in Montreal, Canada.
  • Returns to Scale and Environmental Regulation in Duopoly presented at the Annual