Tag "Central Bank of Bahrain"

Binance Secures Its First Crypto License in the Gulf Region in Bahrain

Binance, a global blockchain ecosystem and cryptocurrency infrastructure provider, announced that it has been granted a crypto-asset service provider license from the Central Bank of Bahrain (CBB). The license will allow Binance to provide crypto-asset trading, custodial services and portfolio

Read More

Central Bank of Bahrain Completes Test With Blockchain Based JP Morgan Coin System

As part of the Central Bank of Bahrain’s (CBB) vision to improve customer experience for safe and efficient settlement solutions, the CBB has announced the successful completion of a test with Onyx by J.P. Morgan’s JPM Coin System. This is

Read More

Bahrain’s Central Bank Analyses Banks’ Readiness for Open Banking

The Central Bank of Bahrain (CBB) published its commentary on the progress made by retail banks in Bahrain on implementation of the necessary infrastructure for compliance with Bahrain Open Banking Framework (Bahrain OBF). This was done following a grace period

Read More

Bahrain’s Central Bank to Pilot Digital Currency for Real Time Cross Border Payments

The Central Bank of Bahrain (CBB) is collaborating with J.P. Morgan and Bank ABC to introduce real time cross border payment solution in a digital currency settlement pilot scheme. Bank ABC along with J.P. Morgan will pilot the transferring of

Read More

Bahrain Islamic Bank Announces Winner for BisB Innovation Challenge

Bahrain Islamic Bank (BisB) announced that Verofax, a Malaysian-based asset digitisation and traceability services provider, as the winner of its ‘BisB Innovation Challenge’. The bank had collaborated with the FinHub 973, Central Bank of Bahrain’s digital lab for this fintech

Read More

Bahraini Crypto Startup Rain Financial’s $6 Million Funding Round Joined by Coinbase

Rain Financial Inc, a licensed cryptocurrency platform and custodian, announced that it had raised $6 million during a Series A funding round. The round was led by Middle East Venture Partners (MEVP), a venture capital firm in the Middle East,

Read More

FinHub 973: Central Bank of Bahrain Launches a Digital Fintech Lab

The Central Bank of Bahrain has announced the launch of FinHub 973, a digital fintech lab in the region. The platform was launched in cooperation with the Bahrain Economic Development Board, Bank ABC, ila Bank, BENEFIT, National Bank of Bahrain

Read More

Bahrain Issues Final Rules on Insurance Aggregators

The Central Bank of Bahrain issued the final rules on “insurance aggregators”. Mr. Abdul Rahman Al Baker, Executive Director of Financial Institutions Supervision, said, “The introduction of insurance aggregator rules is a first step for the CBB towards “Insuretech”, a

Read More

Bahrain to Introduce Regulation for Robo-Advisors

The Central Bank of Bahrain has today issued the Directives on “Digital Financial Advice”, better known as robo-advisors to most. This was issued following an industry consultation process. Mr. Khalid Hamad, Executive Director of Banking Supervision,Central Bank of Bahrain said,

Read More

Bahrain Central Banks Draft Rules on Crypto-Asset Platform Operators

The Central Bank of Bahrain (CBB) has issued for consultation, the draft rules on Crypto-asset Platform Operators (CPO) which provides a regulatory framework for the licensing and supervision of crypto-asset services including those provided by a platform operator as a principal,

Read More