New plans for housing bank in Bahrain
The housing bank in Bahrain is set to go commercial by giving the nod to set up companies or buy shares, according to a bill referred Monday to the legislative authority.
According to the Bahrain Tribune, the bill for the amendment of certain provisions of the establishment of the housing bank comes to meet a plan to boost the profitability chances of the bank that was set up in 1979 with a capital of BD15 million.
To give more autonomy rights to the bank, companies with a capital of less than BD10 million could be established by the bank without the approval of the cabinet. The bank will also invest in real estate and banking transactions.