MPs propose two-day delay for international money transfers to tackle fraud

TDT | Manama

Email: mail@newsofbahrain.com

Money sent abroad from Bahrain could soon take two days to credit, if a proposal to delay international transfers by 48 hours gains parliamentary approval.

While real-time transactions are becoming the norm nowadays, MPs argue that this delay will give authorities crucial time to detect and catch online fraudsters. They also want telecom companies to block scam messages before they can victimise people.

If the proposal passes, banks will be required to delay international transfers by 48 hours moving forward.

The probability of this happening is high, as Parliament’s foreign affairs, defence, and national security committee has already endorsed the plan. MPs Hassan Ebrahim, Dr Hisham Al Ashiri, Dr Ali Majid Al Nuaimi, First Deputy Speaker Abdulnabi Salman, and Hassan Bukhumas are the driving force behind the initiative.

“Scammers are getting smarter—impersonating businesses, tricking people into transferring money, and using all kinds of dirty tricks to drain accounts,” MP Ebrahim said. “Banks need to stay one step ahead, and that means tightening security where it matters.”

Parliamentarians believe the delay will give victims more time to detect fraud and allow authorities to stop scammers by cutting off fraudulent messages at the source.

“Scammers are using fake texts and social media to trick people into handing over their financial details. We need action, both to raise awareness and to make it harder for fraudsters to move stolen money,” said Ebrahim.

Committee members agree, citing the rapid growth of online fraud and the need for stronger protections.

The Ministry of Interior, through the General Directorate of Anti-Corruption, Economic and Electronic Security, has outlined its ongoing efforts to tackle the issue. These include warnings on TV, radio, and social media, as well as collaboration with banks, the Consumer Protection Directorate, and other financial institutions. A joint committee has also been set up with the Central Bank of Bahrain and the Telecommunications Regulatory Authority to tackle fraud, with banks, auditors, and money exchange firms now part of the discussions.

However, the ministry has stressed that its input so far is not final. A full response will be included in the government’s official memorandum, which is still being drafted.