Bahrain has not yet made a decision about the fate of an Iranian-owned bank based in the Gulf state under administration, a senior Bahraini central bank official told Reuters on Monday.

The central bank in May put Future Bank and Iran Insurance Co - the Bahrain branch of an Iranian insurer - under administration to "protect the rights of depositors and policyholders". It did not elaborate on its reasons.

The move demonstrated the vulnerability of Iran's business interests in the Gulf at a time of heightened political tensions.

Asked if the regulator had decided on the bank's future, Ebtisam Al-Arrayed, head of regulatory policy at the central bank, said Future Bank was still under administration.

"No decision (has been) taken yet," said Al-Arrayed on the sidelines of a conference, adding there was no timeline for any decision.  - Reuters