The Bahrain Representative Office Approved by BMA

The Bahrain Monetary Agency (BMA) granted a licence on April 18 to the Bank of China to establish a Representative Office in Bahrain.

The licence was approved on April 13 by HH Shaikh Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain and Chairman of the BMA Board. Mr. Ahmed Abdul Aziz Al Bassam, Director, Licensing & Policy of the BMA, Welcomed the Bank's presence to Bahrain, and he thought that this would add value to Bahrain's well-diversified and mature financial centre.

As the first venture in the Middle East by a Chinese bank, the Bahrain Representative Office of Bank of China will provide general assistance to customers in Bahrain and the Middle East and North Africa region and promote banking business and investment opportunities between China and the region.

The licensing of the Bank of China follows the signing of a memorandum of understanding between the BMA and the People's Bank of China in 2002, during the Prime Minister's official visit to China.