The Council of Ministers issued a decision allowing National Banks in the Gulf Cooperation Council (GCC) to open branches in Bahrain.
A “national bank” is defined as a public shareholding bank having its headquarters in GCC states, and where % 51 of the capital shares are held by nationals of GCC states.
The Cabinet's decision imposed a minimum capital requirement of US $ 100 Million for acquiring a license.
It is also stipulated that a national bank would be granted a license only if it was established for a period not less than 10 years.