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.

The bank might have branches inside and outside the Kingdom to facilitate its activities. It will be an autonomous commercial and financial organisation and have its own budget.

"The bank will draw and implement frameworks for the financial sector, offer

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