Shariah-Compliant Crypto Exchange Wins License From Bahrain Central Bank

Launching soon, CoinMENA said it will offer spot trading in five major cryptocurrencies.

AccessTimeIconJan 25, 2021 at 12:00 p.m. UTC
Updated Sep 14, 2021 at 11:00 a.m. UTC

Middle Eastern digital assets exchange CoinMENA announced Sunday it has received the green light from the Central Bank of Bahrain (CBB) ahead of its coming launch.

  • The certified Sharia-compliant exchange said it has now been awarded a Crypto Asset Services Company license (category 2) from the CBB after meeting a number of technical, and security requirements.
  • The platform will become one of relatively few fully licensed and operating digital assets exchanges for retail and institutional investors in the Kingdom of Bahrain, the United Arab Emirates, Saudi Arabia, Kuwait and Oman, per the announcement.
  • Once launched, CoinMENA said it will offer spot trading in five major cryptocurrencies: bitcoin, ether, XRP, litecoin and bitcoin cash. It also plans an over-the-counter desk for larger trades.
  • “Obtaining the license from the Central Bank of Bahrain allows us to operate under one of the most robust and globally-renowned digital assets regulatory frameworks where governance, security, and customer protection are central to all our operations,” said CoinMENA’s managing director, Dina Sam’an.
  • A date for the planned launch was not provided.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC