Regulatory Alerts2023-04-02
Extending the Scope of Open Banking
The Central Bank of Bahrain proposes amendments to its open banking regulations to extend digital financial service access to legal persons. The updated framework requires retail banks to share consenting corporate customer data with Account Information and Payment Initiation Service Providers, while mandating aligned API specifications, onboarding processes, and security standards. These changes explicitly define the required data sets and applicable product categories to standardize corporate open banking operations across licensed entities.
Share