Regulatory Alerts2021-07-27
Procedure for Lost Cheques
The Central Bank of Bahrain proposes to amend the Business Conduct Module of its Rulebook by eliminating the mandatory police report requirement for lost cheques. Under the new procedure, drawee banks must accept written stop payment or cancellation requests from cheque issuers via letter or email and process them immediately upon receipt. Licensed banks are required to review the proposal and submit their electronic comments, including nil responses, by 27 July 2021.
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