Bahrain issues rules on robo-advice

Robo-adviserThe Central Bank of Bahrain (CBB) has issued directives on digital financial advice following a consultation with the industry. The bank’s executive director of banking supervision, Khalid Hamad, said that the new rules will enable fintech firms as well banks and investment managers to obtain a licence to offer robo-advice services to investors. Hamad also said that the rules will focus on providing safeguards and controls governing the use of algorithms or artificial intelligence embedded in the software. Back in February the CBB issued new rules on cryptocurrency designed to aid the development of the crypto market and the latest directive is in keeping with this ambition, said Hamad. “The CBB continues to make steady progress in expanding the scope of role of digital financial services with a view to ensuring customers have access to smart services from banks and financial institutions,” he said “These rules are in line with regulatory standards in leading financial centres and will help Bahrain maintain its position as a leading financial hub in the region.” ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...


ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.