Future Bank

Future Bank
IndustryFinancial services
Founded2004; 20 years ago (2004)[1]
HeadquartersManama, Bahrain
Total assets$1.51 billion (2015)[2]
Owner
Websitefuturebank.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. ^ a b Mekhennet, Souad; Warrick, Joby (3 April 2018). "Billion-dollar sanctions-busting scheme aided Iran, documents show". Washington Post. Retrieved 8 August 2018.
  2. ^ a b Arnold, Tom (26 January 2016). Smith, Alexander (ed.). "Bahrain moves to close Iran's Future Bank". Reuters. Retrieved 8 August 2018.
  3. ^ "Future Bank B.S.C.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 8 August 2018.
  4. ^ "5 Foreign Banks Licensed by Iran". Financial Tribune. 6 June 2017. Retrieved 8 August 2018.
Stub icon 1 Stub icon 2

This bank and insurance-related article is a stub. You can help Wikipedia by expanding it.