Regulatory Alerts2015-06-30
Proposed Amendments to the Operational Risk Management Module (OM) for Banks
The Central Bank of Bahrain requires financial institutions to submit a standardized list detailing all outsourced services that process customer information. The submission must specify the outsourcing type, provider location, contract expiration dates, and any third-party sub-outsourcing arrangements. This reporting framework enables the regulator to monitor operational risk exposure and ensure continuous compliance with data protection standards across the banking sector.
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