Bahrain Open Banking Framework (BOBF)

The Bahrain Open Banking Framework (BOBF) was launched by the Central Bank of Bahrain (CBB) as part of its Financial Services Development Strategy. Developed in collaboration with Deloitte and the banking industry, the framework provides detailed operational guidelines, security standards, customer experience guidelines, and technical API specifications.

The BOBF is principally based on global ISO standards and draws heavily from the UK's Open Banking Standard (OBIE), Australia's Consumer Data Standards, and the EU's PSD2. It defines APIs for Account Information Services (AIS), Payment Initiation Services (PIS), and Confirmation of Availability of Funds (CAF).

The framework includes a comprehensive governance model with the CBB acting as the central authority. Bahrain was one of the first countries in the Middle East to mandate open banking, establishing it as a regional fintech hub. The Open Banking Lab provides a sandbox environment for testing and certification.

Bahrain's approach has influenced open banking development across the Gulf Cooperation Council (GCC) states, with Saudi Arabia and the UAE developing their own frameworks with similar architectural principles.