Central Bank of Bahrain

Executive Director - Banking Supervision

EDBS/KH/C/7/2020
20th January 2020

Chief Executive Officer
All Ancillary Service Providers
Manama
Kingdom of Bahrain

Dear Sir,

Consultation: Proposed Amendments to Regulation No. (1) of 2007 regarding the “Central Bank of Bahrain Regulated Services”

The e-Cheque Project is scheduled to go live on 8th April 2020. Accordingly, the CBB is proposing to recognise “providing electronic transferable instruments” as a regulated service by amending its Regulation No. (1) of 2007 regarding the “Central Bank of Bahrain Regulated Services”.

The CBB requests licensees to provide their comments including ‘nil comments’ on this proposed amendment.

The proposed amendment to the Regulation shall be available on the CBB website (www.cbb.gov.bh) under the ‘open consultations’ section.

Responses must be sent electronically, in an editable format, to consultation@cbb.gov.bh by 3rd February, 2020.

Yours faithfully,

Khalid Hamad

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Decision No. ( ) of 2020

Amending Regulation No. (1) of 2007
Regarding the “Central Bank of Bahrain Regulated Services”

Governor of the Central Bank of Bahrain:
Having reviewed the Central Bank of Bahrain and Financial Institutions Law issued by Law No. (64) of 2006, and its amendments;
and the Royal Decree-Law No. (55) of 2018 regarding Electronic Transferable Instruments, particularly Article (18) thereof;
and Regulation No. (1) of 2007 regarding the “Central Bank of Bahrain Regulated Services”, and its amendments;
Has decided as follows:

Article (1)

Item No. (5), paragraph (h) of the Central Bank of Bahrain Regulated Services Schedule is amended to read as follows:

| h – Ancillary Financial Sector Institutions | Management of clearing and settlement rooms for payments, cheques, and securities; provision of credit information services; provision of electronic transferable instrument services; financial training services; and other ancillary services related to the financial services industry. |

Article (2)

The departments of the Central Bank of Bahrain shall implement this decision, each within its respective scope, and it shall take effect from the day following its publication in the Official Gazette.

Governor of the Central Bank of Bahrain
Rashid Mohammed Al Maraj

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P.O. Box: 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547400 - Fax: (+973) 17532605
website: www.cbb.gov.bh
E-mail: khalid.hamad@cbb.gov.bh