Complex Made Simple

New BMA licences

The Bahrain Monetary Agency has granted two new licences for banks and another to a financing company. The new $50m Venture Capital Bank will offer venture capital financing and Islamic investment activities, and is being established by investors from Bahrain and Saudi Arabia. Reef, the first real estate financing company in Bahrain, also wins a licence, as does leading Turkish commercial bank Vakifbank Turkiye Vakiflar Bankasi.