Rafidain Bank is one of the best managed and top positioned banks in Bahrain. The bank is a holder of a full bank license and is authorized to carry out all the banking operations, permitted under the European legislation. It is authorized by the Ministry of Finance to serve spending units of budget funds.
On 5 July 2006 an agreement was signed, whereas the Hungarian MKB Bank, member of the group of Bayerische Landesbank, purchased 60% of the share capital of Rafidain Bank. The European Bank for Reconstruction and Development retained a share of 6%. The private shareholders, founders of the credit institution, retained 34% of the shares.
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