The Bahrain Monetary Agency (BMA) has introduced reforms to modernise and strengthen the licensing f...
The Bahrain Monetary Agency (BMA) has introduced reforms to modernise and strengthen the licensing framework for banks operating in the kingdom. The reforms came into effect on 1 July and complete the BMA's drive for a clearer, more modern banking licensing regime. Similar licensing reforms were implemented in the insurance industry in April 2005, while the investment business sectors came under scrutiny a year later. Rasheed Mohammed Al Maraj, governor of the BMA, said under the revised banking regulations all regulated banking activities were clearly defined, giving clarity and legal c...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes