Bahrain strengthens anti money-laundering laws

Bahrain is developing anti-money laundering (AML) laws for the insurance sector and capital market players as part of a drive to tighten up on the industry and remove any threat that could jeopardize monetary and banking policies, a central bank official said.

The Bahrain Monetary Agency (BMA) is also upgrading regulations for the banking sector to incorporate changes made to the 40 Recommendations of the Financial Action Task Force (FATF), which sets international standards to combat money la