Financial and Banking News
ANOTHER OBU CLOSES BUT NO EXODUS YET FROM BAHRAIN
MEES Associate Editor Mehran Nakhjavani reports after a visit to Bahrain last week:
Another offshore banking unit (OBU) has informed the Bahrain Monetary Agency (BMA) of its intention to let its license lapse at the end of the year. Credit Commercial de France (CCF) is to retain a presence on the island as a representative office, and joins Kredietbank and Bank of Nova Scotia as the third OBU this year to...