Bahrain to establish new central bank

Bahrain is set to establish a central bank to be its new authority on finance and banking, following a cabinet meeting on Sunday 6 March.

According to various press reports, including Gulf Daily News, the Bahrain Central Bank will regulate relations between the Bahrain Monetary Agency and banks and financial institutions, as well as monitor their activities.

On Sunday Bahrain's cabinet approved a draft law on Bahrain Central Bank which will oversee the relationship between the BMA and other ban