Financial and Banking News


Bahrain Cautions Foreign OBUs against Hasty Departure 

Statements from senior Bahraini officials last week sent a strong warning to the island's 72 offshore banking units that any decision to relinquish their licenses and leave will only be acceptable in special circumstances. The Minister of Finance, Mr. Ibrahim 'Abd al-Karim, told a local newspaper on 14 June that "we don't want to be milked by hit and run...