Regulatory Alerts2010-11-01
Industry Feedback on the Central Bank of Bahrain AML Module Consultation Paper
The Central Bank of Bahrain (CBB) issued this consultation feedback document to finalize requirements for its Anti-Money Laundering Module, which mandates Capital Market Service Providers and related entities to implement comprehensive money laundering and terrorist financing controls. Industry respondents largely endorse the proposed framework, noting its alignment with existing Financial Crime regulations while requesting clarifications on scope for Islamic banks, MLRO appointments, and Politically Exposed Persons. The CBB accepts these suggestions with minor adjustments, confirming that the new module supersedes prior resolutions and establishes clear compliance pathways for securities transactions without creating operational duplication.