A Memorandum of Understanding with the Korea Intellectual Property Office and a Memorandum of Understanding with the European Patent Office have been signed. This strengthens Bahrain's role in protecting all types of intellectual property and patent rights, which helps attract more investment and develop networking.

A 6-month work permit is being introduced for expats who are already living in the country and working in the commercial sector. This type of permit increases the flexibility of business management and provides an excellent opportunity to employ new workers without long-term commitments.

The draft law aims to reduce Bahrain's reliance on oil revenues and keep more money in circulation at home. But it could potentially push expats into shady schemes or cryptocurrency transactions, threatening Bahrain's reputation as a financial centre.

Once adopted, the regulations are expected to reduce transaction costs and expand financial access. The BCB will also be able to monitor transactions conducted by crypto licensees using a blockchain-based transaction tracking tool.

HSBC is selling its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see the retail loans, deposits and accounts of around 76,000 customers transferred to BBK, which is owned by the governments of both countries.