CBB warns consumers against dealing with unlicensed market intermediary – National Investment Bank
Published on 18 June 2019
Media Center  Alert

Manama, Kingdom of Bahrain – 18 June 2019 – The Central Bank of Bahrain (CBB) would like to warn consumers against dealing with unlicensed market intermediaries that market investment in securities in the Kingdom of Bahrain through short message services (SMS), telephone calls and websites.

This warning comes as a result of a fraudulent institution under the name of “National Investment Bank” which is claiming to be licensed by the Central Bank of Bahrain to undertake trading services, post trade services, depositing certificate of shares and Market Information Services.

The CBB also wishes to emphasize that the above-mentioned entity is not licensed by the CBB and that the activity of promoting financial services to residents in the Kingdom of Bahrain falls within the scope of regulated financial services in accordance with the Central Bank of Bahrain and Financial Institutions Law of 2006. The CBB also stresses the need for consumers to ensure the utmost care and caution, and take into consideration the risks, when investing, dealing or trading any amounts in securities or foreign exchange with any person, persons, institutions, companies or websites, including social media, and ensuring that they hold the necessary licenses from the Central Bank of Bahrain to engage in such activities.

Consumers are encouraged to visit the register of licensed financial institutions on CBB’s website (www.cbb.gov.bh) to verify the authenticity of market intermediaries.

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