Regulatory Alerts2022-01-17
Proposed Amendments to the Requirements on Promotions of Financial Products and Services
The Central Bank of Bahrain has issued proposed draft advertisement rules requiring conventional retail bank licensees to ensure all financial product promotions are clear, truthful, and properly disclose costs, risks, and eligibility criteria. The amendments mandate robust internal and external auditor oversight for raffles and lotteries, establish an opt-out consent mechanism for electronic marketing communications, and clarify accessibility standards for advertisements across traditional and social media platforms. Licensees must comply with these updated requirements while maintaining fair play, timely winner notifications, and appropriate monetary valuations for promotional gifts.
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