The evolution of the monetary and banking system in Bahrain has not been well documented until now. Bahrain moved to Independence in 1971 but, prior to that relied on creating monetary and financial stability by implementing a currency board which was the predecessor to a central bank. This book chronicles the abandonment of the Gulf rupee as the official currency and the adoption of the Bahraini dinar, the creation of a currency board and ultimately the creation of a central bank, detailing the process and problems resolved on the way. The text is largely based on data available from the UK archives thereby providing a unique insight into the rich money and banking history of the country.