BOOST TO BAHRAIN BANKS

The Bahrain Association of Banks (BAB) has announced that the newly-implemented judicial orders related to bank accounts, known as the JBOS system, will ensure the swift transmission of judicial orders immediately after they are issued by the judge. This system will contribute to reducing the burden of the accumulation of judicial orders and marks a significant improvement in litigation procedures for financial cases.

The new JBOS system is now fully managed by the Ministry of Justice and has replaced the previous account suspension and cancellation system, known as BUB, which was previously managed by the Central Bank of Bahrain. The system requires banks to respond daily to judicial requests related to funds and their collection in bank accounts. As a result, written electronic judicial letters to banks requesting amounts to be collected are no longer issued.