Bahrain

Inflation major risk to GCC currency bid

According to this recent article published on the Trade Arabia website, petty politics and diverging inflation rates are the main risks to the Gulf's attempts to set up a monetary union by 2010.

BMA's Al Sadah on Islamic financial services

In the speech 'Challenges facing the Islamic financial services industry' given on 11 June Anwar Khalifa Al Sadah of the Bahrain Monetary Agency said Islamic banking is dominated by small institutions.

Comments: Reserve diversification

Recent reports of the diversification official foreign exchange reserves in the Middle East have not gone unnoticed. Economists are starting to ask if the prospect of large-scale reserve diversification is back on the international agenda, following a…

ECB to advise GCC states

The European Central Bank will advise Gulf states on their plans for possible monetary union a spokesman for the ECB was quoted by AFX as saying on Tuesday 18 April.

Central bank to replace BMA in Bahrain

A central bank with a BD500 million capital will be established in Manama to replace the Bahrain Monetary Agency to meet the Kingdom's comprehensive development plan for the banking sector, the Bahrain Tribune reported on Monday 5 December.

Bahrain to host 39th GCC meeting

Bahrain will host the 39th meeting of the governors of central banks and monetary agencies of the six-state Gulf Cooperation Council scheduled for 14-15 September.

BMA gets new governor after reshuffle

The king of Bahrain, Sheikh Hamad bin Isa Al Khalifa, made a ministerial reshuffle this week which saw Bahrain Monetary Agency Governor Shaikh Ahmed bin Mohammed Al Khalifa, named Finance Minister on Saturday 15 January.

Panels studying GCC monetary union criteria

The governor of the Bahrain Monetary Agency said that technical committees in the Gulf countries are currently studying the criteria for monetary and financial convergence and the legislative and institutional frameworks and arrangements for the monetary…

Bahrain establishes new money laundering taskforce

Bahrain is establishing a new taskforce to combat money laundering and terrorist financing across the region. The Middle East and North Africa Financial Action Task Force (MENAFATF) will be set up on November 29 and 30 in a meeting to be held behind…

Bahrain strengthens anti money-laundering laws

Bahrain is developing anti-money laundering (AML) laws for the insurance sector and capital market players as part of a drive to tighten up on the industry and remove any threat that could jeopardize monetary and banking policies, a central bank official…

Bahrain to host cb governors for IFSB Council meet

Bahrain will host the 3rd meeting of the Council of the Islamic Financial Services Board (IFSB) next week, according to AME info. The governor of the Bahrain Monetary Agency said "We are delighted to host such an important gathering of central bank…

BMA maintains strict money laundering regulation

The Executive Director of Banking Supervision at the Bahrain Monetary Agency said the BMA will make a 'strategic priority' of implementing international best practice in combating money laundering and terrorist financing, according to a report by AME…

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