Middle East Economic Survey

VOL. XLVII

No 31

02-August-2004

REGIONAL BANKING

BMA Issues New Consumer Finance Regulations

The Bahrain Monetary Agency (BMA) announced on 27 July that it had issued new regulations, effective as of 1 January 2005, to govern Bahrain banks consumer credit business. The regulations are aimed at bringing in more uniformity and transparency by introducing rules on calculation of interest rates by banks, credit advertising, procedures on early settlement, as well as limits...