The Central Bank of Bahrain issued an official statement confirming steps it has taken against Safaghat W.L.L., a CBB-licensed crowdfunding platform operator, following an investigation and regulatory assessment prompted by information circulating about the company. The measures include instructing Safaghat to immediately cease providing services to existing clients and to stop onboarding new clients, initiating the necessary regulatory measures in respect of the company, and directing it to maintain transparency by clearly communicating with customers about the status of their current investments. The CBB also noted it is coordinating with relevant authorities to safeguard the soundness and stability of the financial system.
Central Bank of Bahrain 2025-04-30
Central Bank of Bahrain orders Safaghat W.L.L. to halt crowdfunding services and begins regulatory action
The Central Bank of Bahrain has taken enforcement action against Safaghat W.L.L., a licensed crowdfunding platform, following an investigation. Safaghat has been instructed to cease services to existing clients and halt new client onboarding, while maintaining transparency with customers. The CBB is coordinating with relevant authorities to ensure financial system stability.