The regulatory sandbox framework issued by the Central Bank of Bahrain for application to the Regulatory Sandbox of the Kingdom of Bahrain. This document is used in conjunction with the Application for Regulatory Sandbox issued by the Central Bank of Bahrain. An excerpt appears below:
Bahrain is an established financial sector hub in the GCC / Middle East region. It is positioning itself to be the FinTech hub of the region as well, including Shari’ah compliant FinTech solutions. The CBB has made a conscious decision to initiate a Regulatory Sandbox in order to promote effective competition, embrace new technology, encourage financial inclusion and improve customer experience. This is being done in a manner that ensures continuation of CBB policy safeguards on consumer protection, anti-money laundering and level playing field to all market players.