Financial and Banking News

REGIONAL BANKING

Bahrain Restricts Moneychangers

The Bahrain Monetary Authority (BMA) has announced regulations which are to come into effect at the end of February affecting the status and scope of the 50 or so moneychangers operating on the island. Six-month licenses will be required from the BMA, which has set a BD100,000 ($260,000) minimum capital requirement for operations confined to currency exchange. Operators wishing to continue their remittance...