Manama, Kingdom of Bahrain – 6 March 2019 – The Central Bank of Bahrain (CBB) would like to warn consumers when dealing with short message services (SMS), telephone calls and websites that market investment in securities and foreign currencies.
This warning comes as a result of advertisements circulated by companies in the Kingdom of Bahrain through SMS, websites and social media with the premise of investment opportunities and fast financial gains, which may expose consumers to significant material losses.
The CBB also wishes to emphasize that the activity of promoting financial services to residents in the Kingdom of Bahrain falls within the scope of regulated financial services in accordance with the Central Bank of Bahrain and Financial Institutions Law of 2006. The CBB also stresses the need for consumers to ensure the utmost care and caution, and take into consideration the risks, when investing, dealing or trading any amounts in securities or foreign exchange with any person, persons, institutions, companies or websites, including social media, and ensuring that they hold the necessary licenses from the Central Bank of Bahrain to engage in such activities.
Consumers are encouraged to visit the register of licensed financial institutions on CBB’s website (www.cbb.gov.bh) in order to ensure the above.