Central Bank of Bahrain Law: Contents

Central Bank of Bahrain and Financial Institutions Law 2006
Central Bank of Bahrain and Financial Institutions Law 2006 (English)
Central Bank of Bahrain and Financial Institutions Law
Part 1 Central Bank of Bahrain
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Article (4) Duties and Powers of the Central Bank

The Central Bank shall assume the following duties and powers:

(1) issue currency in accordance with the provisions of this law.
(2) liaise with the Ministry of Finance and other relevant official bodies for the purpose of drawing and implementing the appropriate monetary policies to achieve the Kingdom's general economic goals, maintain the stability of the Bahraini currency and the monetary system.
(3) take appropriate measures to counter adverse local, regional or international economic conditions.
(4) regulate, develop and license the Services stated in Article 39 of this law, and exercise regulatory control over institutions that provide such services;
(5) act as banker to the Government within the limits set out in this law.
(6) advice the Government on issues pertaining to financial and economic affairs.
(7) manage the Government's reserves of gold and foreign currency.
(8) to act, in coordination with the Ministry of Finance, as the financial agent for the Government at the International Monetary Fund and the International Bank for Reconstruction and Development as well as other Arab and international monetary institutions and funds, and perform all Government dealings with these organizations.
(9) facilitate and encourage innovation in the financial services industry.
(10) safeguard the legitimate interests of licensees' customers against the risks associated with the financial services industry.
(11) perform any other duties as stipulated in this law.
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(1 Version)
 
Sep 7 2006 onwards
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