BC-A.3.3

Past version: Effective from 01 Apr 2018 to 30 Jun 2018
To view other versions open the versions tab on the right

The most recent changes to this Module are detailed in the table below:

Summary of Changes

Module Ref. Change Date Description of Changes
BC 4.6 01/10/05 Streamlined requirements for new products
BC 8 01/04/06 Margin trading rules and guidance
BC-A.1 10/2007 New Rule BC-A.1.4 introduced, categorising this Module as a Directive.
BC-9 04/2008 New Investment Business related requirements for conduct of business.
BC-4.8 04/2008 New requirement to comply with Code of Best Practice on Consumer Credit and Charging.
BC-8.2 07/2009 Removal of numerical restrictions related to margin trading requirement.
BC-9.5.17 10/2010 Clarified the wording of Rule by replacing the term "legal" with "licensing".
BC 01/2011 Various minor amendments to ensure consistency in formatting of CBB Rulebook
BC-A.1.4 01/2011 Clarified legal basis.
BC-1.1.13 01/2011 Corrected reference to Ministry of Industry and Commerce.
BC-8 01/2011 Changes made to reflect new definitions related to licensed exchange(s).
BC-1.1.11 04/2011 Clarified retention period of records for promotional schemes.
BC-3.1.1 and BC-4.2 04/2011 Minor amendments to clarify Rules.
BC-A.2.2 10/2011 Added new Section to list of activities covered by this Module.
BC-4.6.3 10/2011 Deleted Paragraph. Reduced notification requirements on new or expanded products and facilities.
BC-4.7.2 10/2011 Updated name of Ministry of Justice and Islamic Affairs.
BC-4.9 10/2011 Added new Section on transaction advice.
BC-9.11 and BC-10 10/2011 Replaced Section BC-9.11 dealing with complaints and added Chapter BC-10 Customer Complaints Procedures in line with results of consultation and made it applicable to all regulated banking services.
BC-10 01/2012 Minor corrections to correct typos and clarify language.
BC-10.3.9 01/2012 Paragraph deleted as it repeats what is in Paragraph BC-10.3.7.
BC-6.1.6 04/2012 Cross reference added.
BC-6.1.10 and BC-6.1.11 04/2012 Rule clarified and split into one Rule and one Guidance Paragraphs.
BC-9.2.1 04/2012 Corrected cross reference.
BC-1.2 07/2012 Added Section on advertisements for retail banking products and services.
BC-4.2.3 07/2012 Paragraph deleted as cross-reference is not applicable.
BC-9.5.12A 07/2012 Added guidance to clarify promotion material from banks.
BC-10.1.3A 07/2012 Added guidance on the appointment of the customer complaints officer.
BC-1.1.2 10/2012 Added cross reference to advertising requirements under Section BC-1.2.
BC-4.2 10/2012 Section amended to reflect outcome of consultation on disclosure of interest/profit rate fees and charges by retail banks.
BC-4.7 10/2012 Amended to make Rules clearer.
BC-6.1.2 10/2012 Clarified process for applications for the installation of off-site ATMs.
BC-4.3 01/2013 This Section was deleted and requirements are now covered under Section FC-1.6.
BC-1.2.2 04/2013 Corrected cross reference.
BC-4.2.2 04/2013 Clarified Rule on instances when customers must be kept informed of charges.
BC-9.9.14 and BC-9.9.16(e)(v) 04/2013 Clarified Rules on allocations.
BC-10.7 07/2013 Additional details provided on reporting of complaints.
BC-5.3 10/2013 Updated penalty charges on dishonoured cheques.
BC-6.3 01/2014 Added new Section on local ATM network charges.
BC-4.2 04/2014 Changes made to align language with Islamic terminology.
BC-4.11 04/2014 Added new Section on donations to NGO accounts.
BC 07/2015 Module amended to reflect IFSB-9 'Guiding principles on conduct of business for institutions offering Islamic financial services'.
BC-B.2.1 and BC-9.9.22 10/2015 Corrected cross reference.
BC-B.5.10 10/2015 Deleted incorrect cross reference.
BC-B.5.12A 10/2015 Added guidance on when a 'cooling off period' may be waived.
BC-4.12 10/2015 Added new Section on credit check reports.
BC-9.12.15 10/2015 Minor correction.
BC-9.13.9 10/2015 Deleted reference to securities lending.
BC-A.2.5, and BC-11 04/2016 Added new Section on Measures and Procedures for Services Provided to Disabled Customers.
BC-6.3 04/2016 Amendment to local ATM charges.
BC-6.1.6 07/2016 Deleted reference to Ministry of Interior.
BC-4.6 10/2016 Updated Section on "Notification to the CBB on Introduction of New or Changes to Customer Products and Facilities"
BC-4.9.1 10/2016 Amendment to Transaction Advice
BC-8.2.5 10/2016 Rectified term 'Credit Reference Bureau'
BC-5A 01/2017 Added new Section on Return Policy — Post-Dated Cheques
BC-11.1, BC-11.2 and BC-11.3 04/2017 Amended Sections to clarify applicability of Rules.
BC-5.3.1 07/2017 Amended Paragraph to include penalty charges on returned cheques for the reason of Insufficient Funds.
BC-4.1 04/2018 Deleted Section on "Minimum Balance and Charges on Savings Accounts".
BC-4.13 04/2018 Added new Section on "Fees and Charges for Services Provided to Individuals".
BC-5.3.2 04/2018 Deleted Paragraph on "Dishonoured Cheques'.
BC-6.2 04/2018 Deleted Section on "GCC ATM Network Charges".
BC-6.3 04/2018 Deleted Section on "Local ATM Network Charges".