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Bahrain-based GIB gains retail banking licence for digital venture
June 28, 2017 / 1:40 PM / in 4 months

Bahrain-based GIB gains retail banking licence for digital venture

DUBAI, June 28 (Reuters) - Gulf International Bank (GIB) said on Wednesday it had been granted a retail banking licence in Bahrain by the kingdom’s central bank for its digital venture called Meem.

GIB is licenced by Bahrain’s central bank, headquartered in Bahrain and owned by the governments of the six Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund the principle shareholder with a 97.2 percent stake.

GIB launched its retail banking products and services under the brand name Meem in Saudi Arabia in 2015.

Reporting by Tom Arnold, editing by Louise Heavens

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