Deposits Bahrain is considered a tax haven as non-resident individuals or companies are not subject to local taxes. In other words, no tax is paid on interest earnings. Bahrain allows non-residents, including enterprises to use banks based in Bahrain via fax, telex or the internet. Time Deposit Currency : USD. Interest rate : Tiered interests based on deposited amount and term. A prime rate applies for US$100,000 or more. Placement period : Monthly Weekly placements are available for US$100,000 or more in deposits. Dealing with our branch means that you do not have to pay tax on your interest earnings and you are free from any legal restrictions on making remittances. Contact us. We can guarantee higher returns on your savings. Current Deposit Non interest bearing account : To make money transfers from your account, we require your signature and a security number registered at our branch.