Mena Industrial Bank Granted Conventional Wholesale Bank License by Central Bank of Bahrain

TDT | Manama

Email: mail@newsofbahrain.com

The Central Bank of Bahrain (CBB) has granted Mena Industrial Bank B.S.C. a Conventional Wholesale Bank license, enabling it to operate within the Kingdom of Bahrain. This move marks a significant step in strengthening Bahrain's position as a key regional and international financial hub.

Abdulla Haji, Director of the Licensing Directorate at CBB, shared his enthusiasm about the new development, stating, “We are pleased to announce the issuance of a license to a new wholesale bank in Bahrain. This reflects the Kingdom’s continued appeal as a regional and international financial hub in attracting direct investments in the financial services sector. It also reflects CBB’s commitment to maintain a robust and progressive financial regulatory framework that supports economic growth, financial stability, and innovation."

The newly licensed Mena Industrial Bank will focus on providing wholesale banking and trade finance solutions to a diverse clientele, including corporations, government entities, and high-net-worth individuals, both locally and regionally. The move is expected to enhance Bahrain’s banking sector and attract more international businesses seeking a stable and innovative environment for financial services.

Bahrain has long been recognized as a leading financial hub in the Gulf region, with the government and CBB consistently pushing forward progressive regulations to foster growth in the financial sector. The issuance of this license to Mena Industrial Bank further underscores Bahrain’s ability to support both established and emerging financial institutions within its borders.