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Bahrain to overhaul bank rules
- Bahrain: Wednesday, September 09 - 2009 at 09:20
The Central Bank of Bahrain plans to make major changes to its liquidity rules after troubles at two Saudi-linked banks raised concerns about the country's regulatory system, Reuters has reported. The proposed changes will require banks to hold liquid assets, submit to rigid checks and limit the so-called mismatches that could starve a bank of funding in stressful markets. The CBB in July assumed control of Saad Group's Awal Bank and The International Banking Corporation, a unit of Ahmad Hamad Algosaibi & Bros, citing a substantial shortfall in their assets compared with their liabilities.
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StaffWednesday, September 09 - 2009 at 09:20 UAE local time (GMT+4)
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