In implementation of Resolution No. (43) of 2024, regarding payments related to commercial transactions of commercial establishments, the Ministry of Industry and Commerce announced that the first phase of the resolution goes into effect starting From, Friday, December 13, 2024, and it includes new commercial establishments.

The decision obliges all commercial establishments wishing to issue new commercial records to open a unified business bank account under the name of the establishment to conduct all financial transactions, while providing e-payment services through "BenefitPay", point of sale (POS) devices, or e-portals.

In this regard, HE         Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed that the decision aims to enhance transparency and efficiency in the financial and commercial system in the Kingdom, as it aspires to improve the financial management of enterprises, and expand business opportunities by adopting advanced digital payment solutions. Calling on all new commercial establishments to comply with this decision, which will further facilitate financial procedures and enhance the business environment and ensure the sustainability of its growth. 

In its first phase, the decision applies to new commercial establishments only, existing establishments must start regularizing their status within the next six months, before June 13, 2025, where the Resolution will be take effect for all commercial establishments, whether new or existing.

For more information about Ministerial Resolution No. (43) of 2024 and its mechanism, contact the Ministry's team through website: https://www.sijilat.bh  

Or call center on toll-free number: 8000800.