Financial Regulations
The strength of Bahrain’s financial sector rests upon the regulatory regime imposed by the Central Bank of Bahrain(CBB). The CBB is responsible for the licensing, supervision and regulation of the financial sector in accordance with international standards.
The CBB has introduced International Accounting Standards for locally incorporated banks and has also increased the transparency of the financial position of locally incorporated and publicly-quoted banks by requiring them to publish their financial statements on a quarterly basis.
The CBB’s Compliance Unit is committed to ensuring that the financial sector acts in compliance with CBB regulations on anti-money laundering and countering the financing of terrorism (‘AML/CFT’). TheCompliance Unit also acts to combat the risk of financial crime more generally within the financial sector – such as fraud attempts on CBB licensees and their customers.