Industry Ministry sets June 13 deadline for compliance with digital payment regulations

TDT | Manama
Email : editor@newsofbahrain.com

The Ministry of Industry and Commerce has urged all commercial establishments in Bahrain to comply with Ministerial Decision (43) of 2024 regarding payment regulations before the June 13 deadline.

Under the new directive, businesses must maintain a commercial bank account with a licensed bank in Bahrain, ensuring that all transactions are conducted through this account. Additionally, they must provide at least one electronic payment method, such as electronic payment systems, point-of-sale (POS) terminals, or online payment gateways.

Minister of Industry and Commerce, Abdulla bin Adel Fakhro, highlighted Bahrain’s commitment to financial and commercial advancement through enhanced mechanisms and improved services. He encouraged businesses to adopt secure and efficient digital payment solutions to modernize their operations.

He emphasized that compliance with Ministerial Decision (43) of 2024 is not just a legal requirement but a key step toward greater financial efficiency and transparency. Businesses are urged to act swiftly to ensure a seamless transition to a more advanced and sustainable financial system.

For more details, visit the ministry’s website at www.sijilat.bh or call the toll-free number 80008001.