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Central Bank of Bahrain

Central Bank of Bahrain Overview

Originally known as the Bahrain Monetary Agency, the Central Bank of Bahrain (CBB) was founded in 2006 under the Central Bank of Bahrain and Financial Institutions Law 2006.

Its primary role is to maintain monetary and financial stability in Bahrain, supervising financial institutions, issuing the national currency, managing the government reserves and supporting Islamic banking services.

The Central Bank of Bahrain’ is governed by seven directors who are appointed by royal decree for a renewable four-year term.

Central Bank of Bahrain News

The National Bank of Bahrain says its bitcoin fund will protect investors from losses

Bahraini bank launches Gulf’s first bitcoin investment fund

The National Bank of Bahrain has launched a bitcoin-pegged structured investment product, aimed at targeting growing demand for the cryptocurrency among institutional investors in the Gulf countries.  The fund, developed in partnership with digital asset firm ARP Digital, will offer investors access to any rise in bitcoin’s price, capped within a predetermined threshold, and guarantee […]

BitOasis crypto Sumit Gupta and Neeraj Khandelwal, Cofounders, CoinDCX

Indian crypto exchange buys UAE’s BitOasis

CoinDCX, the largest cryptocurrency exchange in India, has bought UAE-based crypto exchange BitOasis for an undisclosed amount. CoinDCX co-founder Sumit Gupta said the move would “establish an even more formidable foothold across the Mena region”. The Middle East-focused BitOasis, founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, has processed more than $6 […]

'We need to be extra cautious, but... also opportunistic', says Bahrain FinTech Bay CEO Bader Sater about the country's approach to crypto

Bahrain remains cautious but crypto pursuit advances

Bahrain will not sacrifice its position as a trusted financial centre as it chases cryptocurrency millions, according to the boss of fintech incubator Bahrain FinTech Bay. Earlier this month the kingdom’s central bank gave BitOasis Bahrain, a regional crypto trading platform, a so-called Category 2 crypto-asset services licence. The regulatory approval means that the broker-dealer […]

The funds stolen from cryptocurrency exchange Rain were converted into Bitcoin and Ethereum to disguise their origin

Crypto exchange Rain suffers $15m hack

Rain, a cryptocurrency exchange regulated in both the UAE and Bahrain, has confirmed a serious hack resulting in losses reportedly nearing $15 million.  The exchange said in a statement on its website on Tuesday that customer funds remain secure despite the incident.  The security breach occurred on April 29 and was first detected by blockchain […]

The $530 million Bahrain Marina development, with 200 retail units and restaraunts, is a sign of predicted increased consumer spending in the kingdom

Bahrain’s consumer spend to rise as destination malls open

Consumer spending in Bahrain is forecast to rise this year as its economy grows – with retail confidence reflected by construction starting on a $530 million development. Bahrain Marina will have nearly 200 shops, including international brands, restaurants and cafes, as well as 274 residential units, 182 berths for yachts and boats, and more than […]

The World Dubai

Bahrain bank exits investment on Dubai’s The World

A Bahrain bank has sold its investment in a manmade island on The World development off the coast of Dubai. Venture Capital Bank (VCBank), an Islamic wholesale bank licensed by the Central Bank of Bahrain, announced this week that it has sold a 900,000 square foot island plot on The World, which it owned along […]

Bahrain non-oil economy

Bahrain is likely to miss target on balancing books

Bahrain is unlikely to hit a target of balancing its books in 2024 but could see lower budget deficits as the government pursues non-oil growth. Preliminary fiscal data for year-end 2022 points to a minor deficit of 1.1 percent of GDP, underpinned by a 97 percent year-on-year increase in nominal tax revenue after doubling the […]

Manama Bahrain

Rising cost of credit squeezes Bahrain luxury property

The increased cost of credit due to higher interest rates is starting to dent demand for luxury property in Bahrain, with apartments experiencing the most impact.  High-end apartment prices in Bahrain dropped by 1.3 percent quarter on quarter in the first three months of 2023, according to a report published this week by Savills. Luxury […]

Visa open banking

Visa makes first Mena open banking investment

Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […]