CBB warns consumers against dealing with unlicensed financial institutions

CBB warns consumers against dealing with unlicensed financial institutions

The Central Bank of Bahrain (CBB) would like to warn consumers against dealing with unlicensed financial institutions that claim to offer investment in securities. This warning comes as a result of a reported investment fraud committed in the Kingdom by two entities, “Bridge Capital Advisors” which claims to be based in Malaysia and “Green Knight Financial Services” which claims to be based in the United States of America, both of which are not licensed by the Central Bank of Bahrain. It is worth noting that in the past few years, similar warnings have been published by the Australian Securities and Investments Commission and New Zealand's Financial Market Authority. As it pertains to “Bridge Capital Advisors” specifically, in 2018, Malaysia's Securities Commission had also included this company, by name,