Shura’s Legislative Committee Confirms Constitutionality of Law to Strengthen Anti-Money Laundering Measures
TDT | Manama
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The Legislative and Legal Affairs Committee of the Shura Council, chaired by lawyer Dalal Jassim Al Zayed, reviewed the constitutional and legal aspects of Decree-Law No. (37) of 2025, which amends Article (161) of the Central Bank of Bahrain and Financial Institutions Law, issued under Law No. (64) of 2006.The committee examined the structure of the decree-law, noting the urgency of its issuance due to the need to keep pace with evolving methods of money laundering and terrorism financing.
These developments require compliance with international standards set by the Financial Action Task Force (FATF) and the national risk assessment framework. Delays in issuing the decree could expose Bahrain to serious risks, including potential placement on the FATF “grey list,” which could negatively affect the financial and economic sectors, raise risk ratings for transactions with Bahraini financial institutions, and reduce investment attractiveness.The decree-law also strengthens penalties for non-compliant virtual asset service providers, enhancing general and specific deterrence and ensuring that penalties are proportionate to the severity and impact of violations on the financial system, in line with FATF requirements.The committee concluded that the decree-law is constitutionally and legally sound and referred it to the Financial and Economic Affairs Committee for detailed study.
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