All online financial transactions in Bahrain are subject to strict security measures to protect consumers, while efforts are underway to address emerging risks in the digital banking sector, a minister has said.
Parliament and Shura Council Affairs Minister Ghanim Al Buainain added that the government carefully studied the urgent parliamentary proposal calling on the Central Bank of Bahrain (CBB) to require all banks and financial institutions to verify online transactions using a One-Time Password (OTP) and restrict them to credit limits .
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