Latest news with #andNationalEconomy
Gulf Insider
13-03-2025
- Business
- Gulf Insider
Bahrain Expands Crypto Licensing Regulation
Crypto regulation in Bahrain is advancing, with the Central Bank continuously updating its framework for digital asset licensing, Finance and National Economy Minister, His Excellency Shaikh Salman bin Khalifa Al Khalifa, told Parent yesterday. 'The framework ensures that licensed entities operate securely and transparently, protecting against risks such as data breaches and financial crime,' he said. 'This system help maintain investor confidence and strengthens Bahrain's position as a regional financial hub.'Shaikh Salman added, 'GCC countries are moving forward with plans to connect payment networks, with a joint system approved to allow instant currency settlements between them. The GCC Supreme Council backed the move at its 41st session, setting out plans to link national banking system and financial infrastructure.' Talks held last year, he noted, focused on coordinating central bank policies and tightening monetary ties to facilitate business and banking activities across the region. 'The US dollar remains the leading reserve currency for central banks worldwide, backed by the size of the American economy and its dominant role in global trade.'Shaikh Salman said. 'Gulf governments still rely on the dollar for reserves, but talks within the Gulf Monetary Council have touched on ways to build a stronger financial base closer to home.' At home, Bahrain is looking to open more state-owned land for investment. Its Government Land Investment Platform-launched in 2002-now serves as a central point for leasing government property. The online system means investors no longer need to navigate multiple government departments to bid on land; instead, plots are listed transparently to attract more private investment in real estate and infrastructure The platform is frequently updated, with new properties added as others are leased. The Minister also spoke about plane to speed up government paperwork, particularly in property and investment approvals Also read: Drug Money Laundered Through Crypto And Banks
Daily Tribune
12-03-2025
- Business
- Daily Tribune
Bahrain expands crypto licensing regulation
Crypto regulation in Bahrain is advancing, with the Central Bank continuously updating its framework for digital asset licensing, Finance and National Economy Minister, His Excellency Shaikh Salman bin Khalifa Al Khalifa, told Parliament yesterday. 'The framework ensures that licensed entities operate securely and transparently, protecting against risks such as data breaches and financial crime,' he said. 'This system helps maintain investor confidence and strengthens Bahrain's position as a regional financial hub.' Shaikh Salman added, 'GCC countries are moving forward with plans to connect payment networks, with a joint system approved to allow instant currency settlements between them. The GCC Supreme Council backed the move at its 41st session, setting out plans to link national banking systems and financial infrastructure.' Monetary ties Talks held last year, he noted, focused on coordinating central bank policies and tightening monetary ties to facilitate business and banking activities across the region. 'The US dollar remains the leading reserve currency for central banks worldwide, backed by the size of the American economy and its dominant role in global trade,' Shaikh Salman said. 'Gulf governments still rely on the dollar for reserves, but talks within the Gulf Monetary Council have touched on ways to build a stronger financial base closer to home.' Investment At home, Bahrain is looking to open more state-owned land for investment. Its Government Land Investment Platform - launched in 2022 - now serves as a central point for leasing government property. The online system means investors no longer need to navigate multiple government departments to bid on land; instead, plots are listed transparently to attract more private investment in real estate and infrastructure. Properties The platform is frequently updated, with new properties added as others are leased. The Minister also spoke about plans to speed up government paperwork, particularly in property and investment approvals.
