Economy, Business And Markets

Bank’s Fate Unknown

Bank’s Fate UnknownBank’s Fate Unknown

Bahrain has not yet made a decision about the fate of an Iranian-owned bank based in the Persian Gulf state that is presently under administration, a senior Bahraini central bank official told Reuters on Monday. The central bank in May put Bank Ayandeh (Future Bank) and the Iran Insurance Company’ s Bahrain branch under administration to “protect the rights of depositors and policyholders”. It did not elaborate on its reasons.