The Central Bank Of Bahrain (CBB) Is The Central Bank Of Bahrain. It Is A Public Corporate Entity Established By The Central Bank Of Bahrain And The Financial Institutions Group Act 2006. September 6, 2006.
Decree No. 64 Of 2006 On The Promulgation Of The Central Bank Of Bahrain And Financial Institutions Group Act Established The Central Bank Of Bahrain, Replacing The Bahrain Monetary Authority. The Bank Is Located In The Diplomatic District Of Manama, Bahrain.
Its Responsibilities Include Implementing Monetary Policy, Supervising And Regulating The Banking Sector, Acting As The Fiscal Agent Of The Government, Encouraging Bahrain's Development As A Major International Financial Center, And Managing The Kingdom's Foreign Exchange, Cash And Gold Reserves.
History
It Was Established In 1973 As The Bahrain Monetary Authority, Shortly After Bahrain's Independence From The United Kingdom. The Bank Also Houses A Coin And Currency Museum With Collections Dating Back To 653 AD.
The Bank Announced New Regulations On April 29, 2022, Which Contain Rules On Equity-based Crowdfunding And Financing-based Crowdfunding And Are Included In The Crowdfunding Platform Operator Module (Module CFP). The Module CFP Will Be Found In The CBB Rulebook - Volume 5: Type 7 - Ancillary Service Providers.
The Current Governor Of The Central Bank Of Bahrain Is Rasheed Al Maraj. In November 2014, He Decided To Further Develop The Growing Insurance Industry In Saudi Arabia. He Acknowledged The Need For The Central Bank To Work With The Insurance Market To Support The Insurance Industry And Insisted That Insurance Companies Fulfill Their Social Responsibility Obligations. The Governor Of The Central Bank Is The Chairperson Of The Board Of Directors Of The Bahrain Exchange.
