Manama, Jan. 30 -- The Central Bank of Bahrain (CBB) has announced the successful launch of eKYC by financial institutions in the Kingdom as part of its initiatives for digital transformation in the sector.
The announcement was part of the national digital identity and the electronic Know-Your-Customer (eKYC) platform launched in April last year.
The national eKYC platform, which was the first of its kind in the region targeting retail banks, financial services providers and money exchange networks, is operated by BENEFIT in collaboration with the Information and eGovernment Authority (IGA) and under the supervision of the CBB.
The platform provides a national digital identity database for financial institutions to securely verify the id...