THE KINGDOM OF BAHRAIN’S NATIONAL RISK ASSESSMENT 2025

10 METHODOLOGY 21. Multiple resources were used to conduct this NRA. Resources including, but not limited to, the National ML/TF Risk Assessment tool, consultation with the public and private sectors of the Kingdom of Bahrain, and FATF guidance. The risk assessment toolkit utilized for this NRA self-assessment has been developed by the World Bank Group with the collaboration of other organizations including the United Nations Office on Drugs and Crime (UNODC). 22. The Kingdom of Bahrain utilized the Generic ML National Risk Assessment Tool for ML Risk (ML Threat and ML Vulnerability). The NRA ML Tool consists of seven modules that help in assessing the national money laundering risk and are closely interrelated. − Module 1: Threat Assessment − Module 2: National Vulnerability − Module 3: Banking Sector Vulnerability − Module 4: Securities Sector Vulnerability − Module 5: Insurance Sector Vulnerability − Module 6: Other Financial Institution’s Vulnerability − Module 7: DNFBP Sectors Vulnerability 23. Additionally, Bahrain has also utilized the World Bank’s newly developed tool to produce a separate inclusive toolkit (assessments): − Terrorist Financing Risk Assessment Tool; − Legal Persons and Arrangement ML Risk Assessment Tool; − Non-Profit Organizations TF Risk Assessment Tool; and − Virtual Assets and Virtual Asset Service Providers ML/TF Risk Assessment Tool Terminology 24. For the purpose of assessing ML/TF/PF risk at the national level, this assessment report uses the following key concepts: