Israel’s Biggest Banks to Cooperate With Bahrain Lender

A sign hangs from the entrance to theheadquarters of the National Bank of Bahrain in Manama, Bahrain, on Wednesday, March 24, 2010. Bahrain sold $1.25 billion of 10- year bonds, according to a person familiar with the offering. Photographer: Bloomberg/Bloomberg
A sign hangs from the entrance to theheadquarters of the National Bank of Bahrain in Manama, Bahrain, on Wednesday, March 24, 2010. Bahrain sold $1.25 billion of 10- year bonds, according to a person familiar with the offering. Photographer: Bloomberg/Bloomberg

(Bloomberg) --

Israel’s two largest lenders have each signed memorandums of understanding with National Bank of Bahrain to facilitate business dealings between the countries.

Bank Leumi Le-Israel and Bank Hapoalim Ltd. said on Sunday they reached cooperation agreements with the Bahraini bank. The accords will provide a banking platform for trade ties, currency and securities trading, as well as investment between the two countries.

Bahrain in September signed an agreement to establish normal relations with Israel.

Read: Israel Establishes Ties With UAE, Bahrain in Trump-Brokered Deal

(Updates with Bank Hapoalim agreement in second paragraph.)