Middle East Economic Survey
BMA Licenses BankMuscat International In Bahrain
The Bahrain Monetary Agency (BMA) announced on 25 October that it had granted a license to Oman-based BankMuscat to establish a locally incorporated full commercial bank (FCB) in Bahrain. The new bank, BankMuscat International (BMI), will have an initial paid up capital of $53mn, which will be raised to $132.5mn in 2007 through a public share offering.
BMI, which will be...