Regulatory Alerts2023-05-02
Proposed Two-Factor Authentication Requirements for Volume 5 – Specialised Licensees
The Central Bank of Bahrain proposes mandatory two-factor authentication requirements for customer identification and authorization across financing companies, money changers, crowdfunding platform operators, and payment service providers under Volume 5 of its Rulebook. These standards strengthen the regulatory framework by mandating robust verification processes for specialized licensees operating within the Kingdom. Addressed entities must submit electronic feedback, including nil responses, to consultation@cbb.gov.bh by 2 May 2023.
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