Middle East Economic Survey
Bahrain Central Bank To Replace BMA
The Bahrain government will set up the Central Bank of Bahrain (CBB), with a capital of BD500mn ($1.3bn), to replace the Bahrain Monetary Agency (BMA) once the Bahraini Chamber of Deputies approves a draft law for its establishment. After the CBB is formed, the BMA will be dissolved and the decree law on insurance companies of 1987 will be cancelled. The central bank will draw and implement...