January 22, 2019

The Central Bank of Bahrain (CBB) has issued for consultation draft directives on “Digital Financial Advice” (also known as Robo-advice), enabling its licensees to use technology to offer financial advice to their clients.  

The proposed directives cover the key requirements applicable to licensees who wish to use a digital financial advice tool as well as the prudential and...

January 21, 2019

Bahrain FinTech Bay is set to organise its second biggest conference RegFact, an event dedicated exclusively to the regulation and compliance ecosystem targeted at regulators, senior executives responsible for risk, compliance, financial institutions, technology vendors, and industry thought leaders and consultants. 

RegFact will be held on February 25 from 8am to 4pm in The Diplo...

January 15, 2019

In a global first, Bahrain has enacted the Model Law on Electronic Transferable Records (MLETR), developed by the United Nations Commission on International Trade Law (UNCITRAL). The move is part of a series of sweeping reforms aimed at bolstering the digital readiness of the GGC region’s US$1.5 trillion economy. 

In strategic cooperation with the UNCITRAL Secretariat, Bahrain als...

January 8, 2019

Retail banks operating in Bahrain have until the end of this month to outline how they intend to the implement 'open banking' required by new regulations.

The new regulations seek to enable third party payment initiation service providers (PISPs) and account information service providers (AISPs) to gain "unhindered and efficient" access to bank customer accounts, with a view to th...

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