Bahrain sees robust pipeline of financial institutions: 16 new financial institutions licensed, 52 in progress

Manama, July 4 (BNA): The Central Bank of Bahrain announced a strong wave of financial institution licences from early 2024 to mid-2025, with 16 new institutions approved and 52 licence applications under advanced review.

This steady growth highlights Bahrain’s appeal as a leading destination for digital financial services, with international applications making up about 75% of the 68 total. These institutions are expected to create over 850 jobs initially, with more opportunities as they expand.

The new licences include two wholesale banks, and more banking applications are under review. The Central Bank continues to work closely with applicants to help them meet licensing requirements.

Khalid Humaidan, Governor of the Central Bank of Bahrain, said: "This rise in licensing applications reflects the Central Bank’s institutional role and the effectiveness of Bahrain’s regulatory framework, which balances attracting innovation with ensuring financial stability. This achievement was made possible by close cooperation with our partners in the public and private sectors, confirming the integrated national efforts to expand regional and global growth in financial services."

This success is based on the Central Bank’s unified regulatory model, which gives licensed institutions a single point of contact across financial services. This model helps reduce conflicting requirements, streamlines compliance, and provides consistent and effective oversight.

The announcement was made during the "Financial Services Horizons" forum, organised in partnership with the Bahrain Economic Development Board, where sector leaders discussed progress in digital banking, payments infrastructure, and developing national talent for digital transformation.