Pursuant to the Decree Law No. 48 of 2018 (the “VAT Law”), the Kingdom of Bahrain has announced the introduction of Value Added Tax (“VAT”) which shall take effect from 1 January 2019 in the manner prescribed in the VAT Law and its Implementing Regulations.

Accordingly, we write to inform you that Ithmaar Bank B.S.C. (Closed) (“Ithmaar Bank”) has been registered with the National Bureau for Taxation (“NBT”) for VAT purposes. With effect from 1 January 2019 onwards, Ithmaar Bank will be charging and collecting VAT on its products and services in accordance with the VAT Law and its Implementing Regulations.

The VAT Law provides that prices displayed must be inclusive of VAT, therefore, please visit www.ithmaarbank.com/fees to view our revised Service Charges effective 1 January 2019.

To view the VAT registration certificate, click here

For more information regarding the application of VAT in Bahrain, please refer to the NBT’s website using the following link: www.nbt.gov.bh/laws_regulations