The Kingdom of Bahrain is set to mark its 40th anniversary on Friday, alongside celebrations marking the 12th anniversary of the accession of King Hamad bin Isa Al-Khalifa, which falls on Saturday. The five governorates across the kingdom are awaiting the activities and celebrations of the day with decorations and early activities even ahead of the official launch of festivities. An air show is among the activities, along with entertainment functions and performances by music and dance bands, exhibitions by ministries and civil community bodies and companies, and a fireworks and laser show is also being organized by the municipal affairs and urban planning ministry. Bahrain declared independence from the British throne in August 1971, and its economic, social, and urban development blossomed upon the discovery of oil in 1932, when it became the first country in the gulf to see discovery of this mineral wealth. Since the country\'s independence, it sought to establish itself as a distinguished regional financial and monetary center, succeeding in attracting over 400 international banks and monetary bodies. The accession of King Hamad in 1999 was a historical point of the country\'s history, as he soon announced constitutional reforms. Another critical point in the nation\'s history was in November 2000, when then Amir Sheikh Hamad issued a decree to established a committee to create a blueprint to transform Bahrain from a hereditary emirate to a constitutional monarchy within 2 years. The resulting \"National Action Charter\" was presented to the Bahraini public in a referendum in February 2001. In the first comprehensive public vote in Bahrain since the 1970s, 94.8 percent of voters endorsed the charter. This was followed by Municipal elections in May 2002 and Parliamentary elections in October that same year. In an address marking a year since the referendum endorsing the National Action Charter, Shaikh Hamad pronounced Bahrain a constitutional monarchy and changed his status from Amir to King. With this change of status, Bahrain becomes the fourth monarchy in the Arab World, joining the trio of Saudi Arabia, Jordan, and Morocco.