Bahrain Business Facilities Company BSC, better known as "Bahrain Credit", was established on August 29, 1983 and is a closed company with a statutory capital of 10,000,000 BD and an issued capital of 5,000,000 BD under the Bahrain Business Companies Act 1975, aiming to become a specialist financial company. In 1993, Bahrain Credit became a publicly held company with a statutory capital of 50,000,000 BD and an issued capital of 11,000,000 BD. Since June 26, 2005, the company has been licensed and regulated by the Central Bank of Bahrain (CBB) to operate as a Financial Institution Group. In 1989, Bahrain Credit acquired the agency rights of Honda, Cadillac, Hummer and GMC Automotive in Bahrain and formed the National Automobile Company (NMC). In 1997, Tas'heelat Insurance Services Co. WLL was established to provide new and innovative financial services and insurance products. The company offers a range of insurance services under one roof. In October 2002, Tas'heelat Real Estate Services (S.P.C) was established to provide investors and consumers with a variety of real estate related services, such as property valuation, brokerage and management.