Middle East Economic Survey
BMA Licenses First Bahrain-Iran Joint Venture Bank
The Bahrain Monetary Agency (BMA) announced on 28 June that it had issued the first license for a joint venture involving two Iranian banks, Bank Melli Iran (BMI) and Bank Saderat Iran (BSI), and a leading Bahraini commercial bank, Ahli United Bank (AUB). The license was granted following BMAs approval of the merger of the Bahrain operations of the two Iranian banks. The new...