CBB Amends Rulebook Modules to Align Rules with Open Banking Framework
The Central Bank of Bahrain (CBB) amended certain Rulebook modules to align its regulations with the open banking framework, which was launched in October 2020. The amended modules include Licensing Requirements Module, General Requirements Module, and Reporting Requirements Module for conventional banks and Islamic banks (Volume 1 and Volume 2 of the CBB Rulebook, respectively). CBB also amended the Authorization Module, Open Banking Module, General Requirements Module, and Glossary of defined terms for specialized licensees for ancillary service providers (Volume 5, Type 7 of CBB Rulebook).
Retail bank licensees offering Account Information Service Provider (AISP)/Payment Initiation Service Provider (PISP) services are required to submit a gap analysis by August 07, 2021 along with an action plan to fully implement the amended requirements by September 30, 2021. Retail bank licensees are also required to publish and share Application Programming Interfaces (APIs). CBB also specifies that the ancillary service providers offering AISP/PISP services must implement the requirements with immediate effect and confirm their full compliance to their supervisory point of contact at CBB within two weeks from the date of this notification.
Related Links
- Notification on Amended Modules
- Notification Letter on Amended Modules (PDF)
- CBB Reporting Requirements Module for Conventional Banks (PDF)
- General Requirements Module for Conventional Banks (PDF)
- Licensing Requirements Module for Conventional Banks (PDF)
Keywords: Middle East and Africa, Bahrain, Banking, Islamic Banking, Open Banking, API, CBB Rulebook, Regtech, CBB
Previous Article
HMT and MAS Forge Partnership for Financial Services CooperationRelated Articles
BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks
The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.
OSFI Finalizes on Climate Risk Guideline, Issues Other Updates
The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.
BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending
BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.
HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks
The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.
BCBS Report Examines Impact of Basel III Framework for Banks
The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.
PRA Consults on Prudential Rules for "Simpler-Regime" Firms
Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.
DNB Publishes Multiple Reporting Updates for Banks
DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.
NBB Sets Out Climate Risk Expectations, Issues Reporting Updates
The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting
EBA Updates Address Securitization Standards and DGS Guidelines
The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.
FSB Publishes Letter to G20, Sets Out Work Priorities for 2023
The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023