Bahrain Central Bank Prohibits Freezing Accounts After Job Loss

Bahrain Central Bank Prohibits Freezing Accounts After Job Loss

(Bloomberg) --

Bahrain’s central bank banned retail lenders from freezing accounts of customers who lost their jobs or after retirement.

“The CBB issued a directive dated 8th March 2020, prohibiting such practice by retail banks, regardless of whether or not contractually the bank has the right to take such action,” according to a statement posted on its website.

©2020 Bloomberg L.P.

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