VOL. XLVI

No 21

26-May-2003

KUWAIT

BMA Grants License to Kuwaits Gulf Bank

The Bahrain Monetary Agency (BMA) announced on 19 May that it has granted a license to Kuwaits Gulf Bank to establish operations in Bahrain. The Bahrain subsidiary, to be called Gulf Bank BSC, will have an authorized and paid-up capital of $50mn. The wholesale bank will offer services that include corporate and international banking, treasury activities, corporate finance and advisory services.

The Bahrain subsidiary will...