Bahrain OKs establishment of central bank

Bahrain's Shura Council has approved the setting up of the Bahrain Central Bank, which will replace the Bahrain Monetary Agency but with more powers, according to Mena Report.

The new bank will be in charge for overlooking the performances of the stock exchange and insurance firms.

Financial and economic affairs committee secretary Khalid Al Maskati called on councillors to approve the law during the session since the government was keen to make the change soon.

Councillors approved the 188-arti