Bahrain banks banned from freezing accounts after job loss

      Published on Tuesday, 10 March , 2020      1184      
Bahrain banks banned from freezing accounts after job loss

  • Business

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

In a directive dated Sunday, the Central Bank of Bahrain said it was prohibiting such practice by retail banks in the Gulf kingdom.

It added in a statement cited by Bloomberg that the ban applied “regardless of whether or not contractually the bank has the right to take such action”.

Category Business | 2020/03/10 latest update at 8:30 PM
Source : Arabian Business | Photocredit : Google
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