News Middle East03 Mar 2019

Bahrain:Regulator plans rules and licences for digital insurance services

| 03 Mar 2019

The Central Bank of Bahrain is working to launch new licences for intermediate platforms that provide insurance services through insurers via the Internet, according to Mr Abdul Rahman Mohammed Al-Baker, Executive Director of Financial Institutions Supervision at the financial regulator.

The new licensing requirement would be part of a regulatory framework for digital financial services in the Kingdom, reported the newspaper Al Bilad. The platforms to be licensed include those which provide comparisons of pricing and services among the different insurers.

Mr Al Baker said that insurance customers will benefit from the new regulation.


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