Regulatory Alerts2022-10-16
Client Money Requirements
The Central Bank of Bahrain proposes new client money requirements for payment service providers under the General Requirements Module of its Rulebook. These obligations mandate specific safeguarding and segregation standards for client funds to strengthen the regulatory framework for ancillary service providers. The regulator invites industry feedback, including nil responses in editable format, by 16 October 2022.
Office of the Governor
OG/336/2022
2nd October 2022
Chief Executive Officer
All Payment Service Providers
Manama
Kingdom of Bahrain
Dear Sir/ Madam,
**Consultation: Proposed Client Money Requirements**
As part of the Central Bank of Bahrain’s (CBB) initiatives to further enhancing its regulatory framework, the CBB is hereby proposing client money requirements applicable to payment service providers under the General Requirements Module (Module GR) of the CBB Rulebook – Volume 5, Type 7 (Ancillary Service Providers). The proposed requirements are attached to this circular.
The proposed requirements will be available on the CBB website ([www.cbb.gov.bh](http://www.cbb.gov.bh)) under the “open consultations” section.
The CBB requests you to provide your comments, including “nil comments” on the proposed requirements in an editable format to [consultation@cbb.gov.bh](mailto:consultation@cbb.gov.bh) by 16th October 2022.
Yours faithfully,
Rasheed M. Al-Maraj
Governor
cc: Bahrain Association of Banks
External Auditors
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ص.ب : ٧٧، المنامة - مملكة البحرين
هاتف: (+973) 17547500 - فاكس: (+973) 17537799
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547500 - Fax: (+973) 17537799
website: www.cbb.gov.bh
E-mail: governor@cbb.gov.bh
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