Bahrain’s financial services industry continues to develop
Bahrain’s financial services industry continued to develop and expand during 2005, with 32 new licenses issued by the Bahrain Monetary Agency (BMA) to increase the total number of financial institutions licensed by BMA to 366 by 2005 –end. “Bahrain remains the jurisdiction of first choice for financial institutions in the Middle East region,” said Mr. Ahmed Al Bassam, Director, Licensing & Policy, at the BMA.
Of the new licenses issued during 2005, 24 were for banks and banking related institutions, 7 for insurance and insurance-related operations, and one for a capital market broker.
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