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Article: Bahrain rules out bailout of foreign banks.
- Article from:
- Gulf Daily News (Manama, Bahrain)
- Article date:
- September 23, 2009
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MANAMA: The Central Bank of Bahrain (CBB) is not prepared to bail out banks that are part of the country's offshore banking centre, its governor said.
"We have been very clear over the years that the primary responsibility for supporting the wholesale banks resides with their shareholders - that was our clear expectation, for example, with TIBC and Awal," Rasheed Al Maraj said.
"The CBB would not, for example, expect to act as lender of last resort."
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