Bahrain Offshore Bank Account

bahrain offshore banking

The information provided below details the Bahrain banking system and the conditions for opening a Bahrain offshore bank account. You will find details on the governing body, as well as a list of the banks operating.



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The Bahrain Banking System

The Central Bank of Bahrain (CBB) is responsible for setting and implementing monetary policy in the Kingdom of Bahrain. Bahrain maintains a fixed exchange rate regime between the Bahraini dinar and the US dollar. The exchange rate peg provides an anchor for monetary policy,. Low inflation and a stable currency are important long-term features of the Bahraini economy which support a stable business environment and high levels of investment, both of domestic and foreign origin.

Bahrain has a free market economy, with no restrictions on capital movements, foreign exchange, foreign trade or foreign investment. The Kingdom has a leading position in the region as an open, free, transparent and welcoming environment for investors. The monetary policy framework is geared to support the general economic goals of the Kingdom.

The Central Bank of Bahrain (CBB) is responsible for regulating and supervising the whole of Bahrain’s financial sector. Prior to the creation of the CBB in September 2006, the Bahrain Monetary Agency (‘BMA’) had previously acted as the sole regulatory authority for Bahrain’s financial sector. (The BMA was responsible since its establishment in 1973 for regulating Bahrain’s banking sector, and was subsequently given responsibility in August 2002 for regulating Bahrain’s insurance sector and capital markets.

The CBB’s duties include the licensing and supervision of banks (both conventional and Islamic), providers of insurance services (including insurance firms and brokers), investment business licensees (including investment firms, licensed exchanges, clearing houses and their member firms, money brokers and investment advisors), and other financial services providers (including money changers, representative offices, finance companies and ancillary service providers).

The CBB also regulates Bahrain’s licensed exchanges and clearing houses and acts as the Listing Authority for companies and financial instruments listed on the exchanges. It is also responsible for regulating conduct in Bahrain’s capital markets

Some of the major commercial Bahrain banks operating:

  • AL Baraka Islamic Commercial Bank E.C.
  • Ahli United Bank (Bahrain) B.S.C.
  • Al Salam Bank-Bahrain
  • Arab Bank plc
  • BNP Paribas
  • Bahrain Islamic Bank B.S.C.
  • Bahraini Saudi Bank B.S.C.
  • Bank of Bahrain and Kuwait B.S.C.
  • Citibank N.A.
  • Gulf Finance House Commercial Bank B.S.C.
  • HSBC Bank Middle East Limited
  • Habib Bank Limited
  • Kuwait Finance House (Bahrain) B.S.C.
  • National Bank of Abu Dhabi
  • National Bank of Bahrain BSC
  • National Bank of Kuwait S.A.K.
  • Rafidain Bank
  • Shamil Bank of Bahrain E.C. (Islamic Bankers)
  • Standard Chartered Bank
  • State Bank of India
  • The Housing Bank for Trade and Finance – Jordan
  • United Bank Limited

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