VOL. XLVI

No 22

2-June-2003

REGIONAL BANKING

Citibank Shifts Billions Of Offshore Assets Back To Bahrain

Citibank Bahrain, which is a subsidiary of Citigroup, returned to Bahrain the $30bn of assets it had transferred out of the region late last year as a precautionary measure due to fears of war in Iraq, the Bahrain Monetary Agency (BMA) announced on 28 May (MEES, 24 March). While the assets were shifted, the bank continued to maintain the administration and processing of the assets in Bahrain....