VOL. XLVII
No 03
19-January-2004
REGIONAL BANKING
BMA Grants Three New Banking Licenses
The Bahrain Monetary Agency (BMA) on 9 January granted three new licenses for banks to operate in the Gulf state and approved a fourth application. A license was granted to an offshore banking unit (OBU) of ICICI Bank, Indias second largest bank and the countrys largest private bank with assets of $22bn. The BMA is also extending a special concession to the bank to offer its non-resident Indian (NRI) banking...
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