The Central Bank of Bahrain has issued a statement clarifying key details from its 2024 Annual Compliance and Enforcement Report, addressing regulatory measures taken against certain companies and institutions.
According to the report, administrative actions were implemented against regulated and listed companies due to various compliance violations. These cases were reviewed by the Sanctions and Administrative Measures Committee to determine appropriate actions.
Among the identified violations were non-compliance by a crypto-asset service provider with banking regulations and the Crypto-Asset Module guidelines, a listed company’s failure to notify the bank of a shareholder’s ownership increase exceeding 5%, and a securities broker’s failure to maintain records in accordance with banking requirements.
The Central Bank also clarified that a reported issue regarding the “failure to submit the register of interests” should be more accurately described as “failure to submit the monthly report on the ownership of shares in a listed company.”
The regulatory body reaffirmed its commitment to ensuring transparency and compliance within the financial sector, emphasizing that necessary measures will continue to be taken to uphold financial integrity.
