Bahrain’s Ministry of Industry and Commerce, in collaboration with several local banks, has launched a new business banking service aimed at improving the business environment and strengthening compliance with regulatory requirements.
This service enables business owners to easily open a commercial bank account, contributing to the stability of commercial activities.
Abdulla bin Adel Fakhro, Minister of Industry and Commerce, emphasized that this step reflects the Ministry’s continuous commitment to establishing a flexible, transparent, and investment-friendly business environment. It also highlights the Ministry’s dedication to providing efficient services that facilitate doing business and support business owners in complying with relevant regulations.
Abdulla bin Adel Fakhro Minister of Industry and Commerce Bahrain
“The Ministry will continue to develop more initiatives to support the national economy. This new business banking service is part of an integrated set of initiatives aimed at simplifying procedures, achieving the highest levels of legislative compliance, and enhancing the efficiency of government services provided to the commercial sector, thereby boosting Bahrain’s competitiveness regionally and internationally.”
According to the statement, this initiative comes in line with the implementation of Ministerial Decision (43) of 2024 regarding payment regulations for commercial transactions of business establishments, which mandates all commercial establishments to open a unified commercial bank account for their financial transactions and provide approved electronic payment methods that support transparency and digitization in commercial activities.
To simplify the process, a direct service point has been established on the second floor of the Bahrain Financial Harbour, near the Bahrain Investors Centre. Additionally, the new service can be accessed online via the commercial registration system ‘Sijilat’.
The Ministry urges all commercial establishments to open a commercial bank account before the deadline on June 13, 2025, to ensure full compliance with the resolution and benefit from the provided facilities, as per the press statement.
