The Central Bank of Bahrain (CBB) which was created on the 6th of September, 2006 is a public corporate entity established by the Financial Institutions and Central Bank of Bahrain Law 2006. The Central Bank of Bahrain was established in place of the Bahrain Monetary Agency by decree No. 64 of 2006, enacting the Bahrain Central Bank and Financial Institutions Law. Bahrain’s banking system consists of both Conventional and Islamic Banks and is the largest component of the financial system, accounting for over 85% of the total financial assets. The responsibilities of the CBB as stated by the decree include;
- implementing monetary policy
- supervising and regulating the banking sector
- acting as the government’s fiscal agent
- encouraging the growth of Bahrain as a major international financial center, and
- managing the foreign currency, cash, and gold reserves of the Kingdom
Article 40 of the Financial Institutions and Central Bank of Bahrain Law 2006 prescribes that anyone wishing to undertake a Regulated Service must obtain the required license before undertaking such activity. The CBB provides a ‘one-stop’ licensing service, which includes the ability for applicants to get their Commercial Registration from the Ministry of Industry, Commerce, and Tourism through the CBB. A summary of the licensing process and associated matters, such as CBB license fees and the commercial registration process, can be found in the CBB Guide to Licensing and the complete details of the CBB licensing process and requirements are prescribed in the CBB Rulebook. Each Volume has a Module outlining the CBB’s license requirements for the area covered by the Volume, as well as a detailed overview of the industry in question. Regulated Services.
The following laws apply to Financial Services Businesses in the Kingdom of Bahrain:
- Financial Institutions and Central Bank of Bahrain Law 2006
- Bahrain Stock Exchange Law 1987
- Commercial Companies Law 2001
- Bahrain Anti Money Laundering Law 2001
- CBB Regulations and Resolutions
Governor: Rasheed Mohammed Al Maraj
Physical Address :
Central Bank of Bahrain
Building 96, Road 1702
Block 317, Diplomatic Area
Manama
Kingdom of Bahrain
Postal Address:
Central Bank of Bahrain
PO Box 27
Manama
Kingdom of Bahrain
Website: https://www.cbb.gov.bh
