Latest news with #CentralBankofBahrain
Biz Bahrain
4 days ago
- Business
- Biz Bahrain
CBB Government Development Bond issue 40 oversubscribed by 203%
The Central Bank of Bahrain (CBB) announces that the issue of the 3-year Government Development Bond has been oversubscribed by 203%. Subscriptions worth BD 507.802 million were received for the BD 250 million issue, which carries a maturity of 3 years. The fixed annual coupon rate on the issue, which begins on May 29 and matures on May 29, 2028, is 6.125%. The Government Development Bonds are issued by the CBB on behalf of the Government of the Kingdom of Bahrain. This is Government Development Bond issue No.40 (ISIN BH00010U5465).
Zawya
4 days ago
- Business
- Zawya
CBB Government Development Bond Issue No.40 oversubscribed
Manama, Bahrain – The Central Bank of Bahrain (CBB) announces that the issue of the 3-year Government Development Bond has been oversubscribed by 203%. Subscriptions worth BD 507.802 million were received for the BD 250 million issue, which carries a maturity of 3 years. The fixed annual coupon rate on the issue, which begins on 29th May 2025 and matures on 29th May 2028, is 6.125%. The Government Development Bonds are issued by the CBB on behalf of the Government of the Kingdom of Bahrain. This is Government Development Bond issue No.40 (ISIN BH00010U5465).
Biz Bahrain
6 days ago
- Business
- Biz Bahrain
MADA Brokers Sets a New Standard: Bahrain's First Online Insurance Aggregator Now Live!
MADA Brokers licensed by Central Bank of Bahrain (CBB), has announced the launch of the first insurance aggregator in the Kingdom of Bahrain, accompanied by the introduction of the mobile application, 'Shamil by MADA.' This groundbreaking initiative marks a significant milestone with the support and guidance of Central Bank of Bahrain (CBB), as MADA becomes the first company in Bahrain to provide clients with instant quotations for a variety of insurance products, including motor, home, and travel insurance. This advancement underscores MADA's commitment to harnessing technology to enhance customer experience and address the evolving needs of its clients. In addition to the mobile application, the aggregator is also accessible via the company's website: In a statement on the occasion, Mr. Khaled Fuad Kanoo – Chairman of the Board of MADA Insurance, commented: 'The launch of Mada's comprehensive digital application marks a major milestone in the Kingdom of Bahrain, as it introduces the first insurance aggregation platform of its kind. The platform serves as a unified marketplace that streamlines the insurance purchasing process—empowering users to compare multiple products and choose the option that best aligns with their needs.' Mr. Kanoo further added, 'At Mada Brokers, our mission is to drive the expansion of Bahrain's online insurance aggregator ecosystem—a model that has matured globally to become the primary channel for distributing personal and commercial insurance products. Our goal is to offer a user-friendly platform that equips consumers with the tools and knowledge necessary to make confident, informed decisions about their insurance coverage.' Mr. Kanoo affirmed that Shamil by Mada is a key milestone in the company's journey, developed with the support and regulatory oversight of the Central Bank of Bahrain. It reflects MADA ongoing commitment to using digital innovation to create transparent, accessible, and seamless insurance solutions for all clients. Mada Brokers currently offers three core insurance lines—Motor, Home, and Travel—through strategic partnerships with GIG Gulf, GIG Bahrain, and Solidarity. The platform is designed to simplify the insurance process, offering side-by-side comparisons of policies from leading providers. In addition, Mada provides a range of corporate insurance solutions, offering coverage against a spectrum of risks such as property damage, business interruption, operational incidents, financial losses, employee benefits, and theft. For individuals, Mada's personal insurance lines cover losses arising from death, injury, or property damage, ensuring financial protection and peace of mind. As part of its roadmap for continued expansion, Mada plans to introduce Medical Malpractice Insurance and Medical Insurance in the coming months—reinforcing its role in enhancing the insurance sector and addressing the evolving needs of Bahrain's diverse customer base.
Biz Bahrain
22-05-2025
- Business
- Biz Bahrain
CBB monthly Treasury Bills issue oversubscribed by 103%
The Central Bank of Bahrain (CBB) announced that the BD 35 million monthly issue of Government Treasury Bills has been oversubscribed by 103%. The bills, with a maturity of 182 days, are issued by the CBB on behalf of the Kingdom of Bahrain. The issue date is May 25, 2025, and the maturity date is November 23, 2025. The weighted average interest rate was 5.44%, compared to 5.38% in the previous issue on May 4, 2025. The average price was approximately 97.322%, with the lowest accepted price at 97.246%. This marks issue No. 2070 (ISIN BH0007294661) of Government Treasury Bills. The total outstanding value of Government Treasury Bills now stands at BD 2.110 billion.
Daily Tribune
19-05-2025
- Business
- Daily Tribune
BitOasis Officially launches Trading operations in Bahrain
BitOasis, a leading virtual assets trading platform in the Middle East and North Africa (MENA), has officially launched operations in Bahrain, further consolidating its role as a compliant and trusted crypto broker-dealer in the region. The Bahrain arm of BitOasis will operate under a Crypto-Asset Services License issued by the Central Bank of Bahrain, offering digital asset trading services to retail, corporate, and institutional clients. 'This launch is a key milestone,' said Ola Doudin, CEO and Co-Founder of BitOasis, during the official inauguration attended by Ali Dashti, General Manager of BitOasis Bahrain, and Sumit Gupta, Co-Founder of CoinDCX. 'With CoinDCX's tech infrastructure and support, we're aiming for one million users by 2026 and striving to set the gold standard in compliance and customer experience.' BitOasis, which was acquired by Indian crypto unicorn CoinDCX in July 2024, now benefits from the technical muscle of CoinDCX's 200+ member tech team—resulting in improved platform performance, security, and product offerings. The Bahrain launch includes premium services for high-net-worth and institutional clients, alongside local banking integration for seamless GCC-wide deposits and withdrawals. The move comes as the MENA region experiences rapid crypto market growth, driven by tech-savvy youth, proactive regulations, and supportive government strategies. According to IMARC Consulting, the GCC crypto market—valued at $744.3 million in 2024 —is expected to soar to $3.5 billion by 2033, with a projected CAGR of 16.75%. 'Since securing a full VASP License in Dubai last December, BitOasis has made tremendous strides,' said Gupta. 'Our launch in Bahrain signals our deep commitment to co-building a secure and compliant crypto ecosystem across the MENA region.' Founded in 2016, BitOasis has processed over $7.4 billion in trading volume and raised more than $40 million in funding.
