Bahrain grants licences to two financial houses

BAHRAIN - Bahrain has granted licences to two financial houses to operate from the Gulf Arab state, the Bahrain Monetary Agency (BMA), the island state's central bank, said on 25 June.

A BMA statement said a restricted investment banking licence was granted to Societe General Asset Management (Bahrain) to provide direct and indirect sale of collective investment scheme, bonds and notes, with a paid-up capital of $5 million. The company is owned by Societe General.

The BMA, Bahrain's central ban