TheCentral Bank of Bahrain(CBB) is thecentral bankofBahrain.It is a public corporate entity that was established by theCentral Bank of Bahrain and Financial Institutions Law 2006.on 6 September 2006.
 | |
| Headquarters | Manama,Bahrain |
|---|---|
| Established | 6 September 2006 |
| Ownership | 100%state ownership[1] |
| Key people | Khalid Humaidan,Governor |
| Central bank of | Bahrain |
| Currency | Bahraini dinar BHD (ISO 4217) |
| Reserves | $3.2 billion |
| Preceded by | Bahrain Monetary Agency |
| Website | www |
Decree No. 64 of 2006 with respect to promulgating the Central Bank of Bahrain and Financial Institutions Lawestablished the Central Bank of Bahrain in place of theBahrain Monetary Agency.[2]The Bank is located in theDiplomatic AreaofManama,in Bahrain.
Its responsibilities include, implement monetary policy, supervise and regulate the banking sector, acting as the government's fiscal agent, encouraging the growth of Bahrain as a major international financial centre, and to manage the foreign currency, cash and gold reserves of the Kingdom.
History
editIt was established in 1973 as the Bahrain Monetary Agency, shortly after Bahrain gained its independence from theUnited Kingdom.The bank also houses a coin and currency museum with collections dating back to 653 AD.
The Bank on April 29, 2022 announced new regulations containing rules regarding equity-based crowdfunding and financing-based crowdfunding and are covered under Crowdfunding Platform Operators Module (Module CFP). Module CFP will be found under CBB Rule book – Volume 5: Type 7 – Ancillary Service Providers.[3]
The current Central Bank of Bahrain governor is Rasheed Al Maraj.[4]In November 2014, he decided to further develop the kingdom's growing insurance sector. He acknowledged the necessity for the Central Bank to co-operate with the insurance market to support the insurance sector, also insisting on the insurance firms' obligations to fulfill their social responsibility.[5]The Central Bank governor is the chairman of the board of directors of theBahrain Bourse.
Governors
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- Abdullah Hassan Saif,1979 – May 1999[6][7][8]
- Abdullah bin Khalifa Al Khalifa,1999–2002[8]
- Ahmed bin Mohamed Al Khalifa,2002 – January 2005[9]
- Rasheed Mohammed Al Maraj,January 2005[10]– February 2024[11]
- Khalid Humaidan,February 2024[11]
See also
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References
edit- ^Weidner, Jan (2017)."The Organisation and Structure of Central Banks"(PDF).Katalog der Deutschen Nationalbibliothek.
- ^"Decree No. 64 of 2006 with respect to promulgating the Central Bank of Bahrain and Financial Institutions Law"(PDF).6 September 2006. Archived fromthe original(PDF)on 4 November 2006.Retrieved23 October2006.
- ^Staff Writer; TradeArabia."Central Bank of Bahrain issues new crowdfunding rules".www.zawya.com.Retrieved30 April2022.
- ^Central Bank of Bahrain -Management - Governor,access 31 May 2019.
- ^"Central Bank Of Bahrain Vows To Develop Insurance Industry".Ace Ins Brokers.Archived fromthe originalon 18 December 2014.Retrieved18 December2014.
- ^"The Middle East".IC Publications Limited. 23 April 1983 – via Google Books.
- ^"MEED".Economic East Economic Digest, Limited. 23 April 1999 – via Google Books.
- ^ab"Bankers tipped for top BMA post".MEED.6 November 1999.
- ^Money Launderingcbb.complinet.com[permanent dead link]
- ^"H.E. Rasheed Mohammed Al Maraj".Retrieved5 August2020.
- ^ab"Bahrain announces new governor - Central Banking".www.centralbanking.com.9 October 2023.
External links
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