Charles Russell, the Bahrain and London based law firm, acting as external administrator of Awal Bank (in Administration) has cancelled the employment contracts of a further five of the bank's employees.

“As the bank has not been trading for some months, Charles Russell has had to carry out additional redundancies. We have previously attended meetings with the Ministry of Labour to explain the situation and ensure that the financial packages are fully compliant with the Bahraini labour law,” said a spokesperson for Charles Russell.-TradeArabia News Service