Bahrain issues new trust rules

The Central Bank of Bahrain (CBB) has issued new regulations to govern trust business in Bahrain. The new regulations lay down capital and other licensing requirements for trustees and the documentation required for registering a financial trust. Commenting on the changes, Mike Spittal, managing director of Investec Trust in Jersey, said it was excited about the prospects the new trust law offered, including the possibilities for it to be used as a corporate structuring tool. He said: "In this area we see opportunities for service providers to act as pensions trustees and administrators."...