Future Bank

Future Bank
Industry Financial services
Founded 2004 (2004)[1]
Total assets $1.51 billion (2015)[2]
Owner
Website futurebank.com.bh

Future Bank B.S.C. (Arabic: بنك المستقبل‎) is a commercial bank that was based in Manama, Bahrain.[3] It started as a joint venture by Ahli United Bank and two Iranian state-owned banks, Bank Melli and Bank Saderat.[1]

Central Bank of Bahrain closed down the bank in 2016 after Bahrain cut diplomatic ties with Iran.[2] In 2017, Central Bank of the Islamic Republic of Iran licensed the bank to open a branch in Kish Island.[4]

References

  1. 1 2 Mekhennet, Souad; Warrick, Joby (2018-04-03). "Billion-dollar sanctions-busting scheme aided Iran, documents show". Washington Post. Retrieved 2018-08-08.
  2. 1 2 Arnold, Tom (2016-01-26). Smith, Alexander, ed. "Bahrain moves to close Iran's Future Bank". Reuters. Retrieved 2018-08-08.
  3. ↑ "Future Bank B.S.C.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2018-08-08.
  4. ↑ "5 Foreign Banks Licensed by Iran". Financial Tribune. 2017-06-06. Retrieved 2018-08-08.
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