By Staff writer
Central bank tells retail lenders they cannot freeze accounts of customers who lost their jobs or after retirement
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".