VOL. XLVII

No 14

05-April-2004

REGIONAL BANKING

BMA Lifts Restriction On Foreign Insurance Brokers, Loss Adjusters

The Bahrain Monetary Agency (BMA) has lifted a restriction on foreign insurance brokers and loss adjusters operating in Bahrain, as well as the need for them to have a local partner. The BMA said the move was to enhance market access and stimulate growth in the industry. Earlier regulations required majority Bahraini ownership, of at least 51%, in companies operating as insurance...