Industry Ministry launches commercial bank account opening service
As part of its ongoing efforts to develop the business environment and enhance compliance with regulatory decisions, the Ministry of Industry and Commerce has announced the launch of a new service in collaboration with several local banks. This service enables business owners to easily open a commercial bank account, contributing to the stability of commercial activities.
Abdulla bin Adel Fakhro, Minister of Industry and Commerce, emphasised that this step reflects the Ministry's continuous commitment to establishing a flexible, transparent, and investment-friendly business environment. It also highlights the Ministry's dedication to providing efficient services that facilitate doing business and support business owners in complying with relevant regulations. He noted that the Ministry will continue to develop more initiatives to support the national economy.
The Minister added that this new service is part of an integrated set of initiatives aimed at simplifying procedures, achieving the highest levels of legislative compliance, and enhancing the efficiency of government services provided to the commercial sector, thereby boosting Bahrain's competitiveness regionally and internationally.
This initiative comes in line with the implementation of Ministerial Decision (43) of 2024 regarding payment regulations for commercial transactions of business establishments, which mandates all commercial establishments to open a unified commercial bank account for their financial transactions and provide approved electronic payment methods that support transparency and digitisation in commercial activities.
To simplify the process, a direct service point has been established on the second floor of the Bahrain Financial Harbour, near the Bahrain Investors Centre. Additionally, the service can be accessed online via the commercial registration system 'Sijilat' at www.sijilat.bh.
The Ministry urges all commercial establishments to open a commercial bank account before the deadline on June 13, 2025, to ensure full compliance with the resolution and benefit from the provided facilities.
For more information, please contact: [email protected] or call 80008001.
BNA(R)
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