Shura Council Reviews Measures to Strengthen Financial, Environmental Legislation

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Manama: The Shura Council will hold its fourteenth meeting of the fourth session of the sixth legislative termon Sunday, during which it will discuss several draft laws and committee reports, most notably amendments related to combating money laundering and terrorist financing. The Council will review the report of the Committee on Foreign Affairs, Defence and National Security on Decree-Law No. (36) of 2025, which amends provisions of Decree-Law No. (4) of 2001. The amendments aim to keep pace with evolving methods of money laundering, terrorist financing, and the financing of weapons proliferation, in line with Financial Action Task Force (FATF) standards and national risk assessment requirements.

The committee recommended approval of the decree-law, noting that it addresses gaps identified in practical implementation by updating key definitions, expanding the scope of money laundering offences, and strengthening confiscation provisions while safeguarding the rights of bona fide third parties. The amendments also enhance the role of the National Financial Investigations Center, granting it broader powers in financial analysis, coordination, and the suspension of suspicious transactions, in addition to reinforcing international cooperation and information exchange. These measures aim to protect Bahrain’s financial and economic system and strengthen international confidence in its regulatory framework.

The Council will also discuss the report of the Public Utilities and Environment Committee on a draft law amending Article (3) of Law No. (5) of 2021 regulating international trade in endangered wild animal and plant species. The proposed amendment would empower the Supreme Council for the Environment to update and amend all annexes attached to the law, which include national lists of protected species. The committee endorsed the draft law, highlighting its role in enhancing biodiversity protection and strengthening national efforts to safeguard wildlife.

In addition, the Shura Council will consider the report of the Financial and Economic Affairs Committee on a draft law amending the mechanism for distributing votes in elections of the Bahrain Chamber of Commerce and Industry, based on members’ capital. The amendment seeks to achieve greater balance and fairness in vote distribution, encourage wider participation among chamber members, and enhance the Chamber’s institutional effectiveness. The Council will also be informed of a parliamentary question addressed to the Minister of Municipalities and Agriculture regarding the licensing, monitoring, and regulation of advertisements, along with the minister’s response.