Bahrain establishes trust registry
Instituting trust mechanisms will bolster its role for servicing wealthy clients.
The Central Bank of Bahrain has launched a trust registry office, a specific, restricted area that houses the documentation required by the central bank for the registration of trusts by approved trustees.
This legal agreement establishes fiduciary responsibility for investor assets, and is a tool used for family succession planning or for companies to protect pension monies. The move marks BahrainÆs gambit to take on Singapore, Dubai and other competitors as a centre for wealth management.
ôThe CBB is putting...
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