The Central Bank of Bahrain (CBB) has issued new regulations to govern trust business in Bahrain.
The new regulations lay down capital and other licensing requirements for trustees and the documentation required for registering a financial trust.
The regulations, issued through CBB resolutions, follow from the enactment of Bahrain’s first Trust Law, which was enacted in August 2006.
“The Trust Law provides a firm legal foundation for the creation and administration of financial trusts in Bahrain,” says Mohammed Ayman Al Tajer, Director, Financial Institutions Supervision, at the CBB. “The CBB has, since, been issuing regulations to provide further guidance on the implementation of the Law.”