Bahrain: Beware Unknown Financial Institutions; Warns CBB

Author February 12, 2020

Less than a minute

The Central Bank of Bahrain (CBB) has instructed all retail banks to refrain from blocking customer accounts if the customer has lost his or her employment or has retired.

The Central Bank of Bahrain (CBB) has warned consumers from unknown financial institutions that market and offer online financial services.

This comes as a result of recent online marketing under the name of “MessengerBank”, which claims to provide asset management, brokerage and investment banking services through an online platform that allows exchanging and managing digital assets.

The CBB also called upon consumers to take utmost care and caution and to be cautious when investing, dealing or trading any amounts in securities or foreign exchange with any person, persons, institutions, companies or websites, including social media.