VOL. XLVI

No 2

13-January-2003

BAHRAIN

BMA Grants New Bank Licenses

The Bahrain Monetary Agency (BMA) announced on 3 January that it had granted two new licenses for banks and approved applications in principle for two others, which are in the final stages of completing the BMA licensing formalities. An investment banking license has been granted to Overland Leasing Bank (OLB) which is incorporated in Bahrain and being set up with an authorized capital of $50mn and paid up capital of $10mn. Its...