The Bahrain Monetary Agency (BMA) is to introduce anti-money laundering (AML) regulations for the Kingdom’s insurance firms and capital market players, Zawya.com reported.
The Agency is also upgrading AML regulations for the banking sector, to incorporate recent changes made to the 40 Recommendations of the Financial Action Task Force (FATF), which sets international standards to combat money laundering and terrorist financing.
The new attempts will reinforce Bahrain’s established leadership as an international financial center of excellence as well as BMA’s reputation as the most highly regarded regulator in the Middle East region.