RegAlert

Consultation · CBB · 3 Feb 2020

Proposed Amendments to Regulation No. (1) of 2007

payments

The Central Bank of Bahrain (CBB) proposes amending Regulation No. (1) of 2007 to formally recognize “providing electronic transferable instruments” as a regulated service, aligning regulatory frameworks with the upcoming e-Cheque Project launch on 8 April 2020. Licensees are required to submit their feedback, including nil comments, electronically in an editable format by 3 February 2020. The amended regulation will be published on the CBB website and takes effect the day following its official gazette publication.

BahrainCentral Bank of Bahrain

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

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

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

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Annotations and obligations
2 obligations · 6 definitions
  • Obligation 2
  • Definition / condition 6
  • background, boilerplate

Lineage

The documents this one cites, and the documents that cite it.

Central Bank of Bahrain andFinancial Institutions Law issued…Not in RegAlertCentral Bank of Bahrain and Financial Institutions Law issued by Law No. (64) of 2006 — Not in RegAlertRoyal Decree-Law No. (55) of 2018regarding Electronic Transferable…Not in RegAlertRoyal Decree-Law No. (55) of 2018 regarding Electronic Transferable Instruments — Not in RegAlertRegulation No. 1 of 2007Not in RegAlertRegulation No. 1 of 2007 — Not in RegAlertProposed Amendments toRegulation No. (1) of 20072020-02-03 · this documentProposed Amendments to Regulation No. (1) of 2007 (2020-02-03)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (3)
Amends
  • Regulation No. 1 of 2007Not in RegAlert

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

Issued under
  • Central Bank of Bahrain and Financial Institutions Law issued by Law No. (64) of 2006Not in RegAlert

    “Having reviewed the Central Bank of Bahrain and Financial Institutions Law issued by Law No. (64) of 2006, and its amendments;”

  • Royal Decree-Law No. (55) of 2018 regarding Electronic Transferable InstrumentsNot in RegAlert

    “and the Royal Decree-Law No. (55) of 2018 regarding Electronic Transferable Instruments, particularly Article (18) thereof;”

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