UG-A UG-A Introduction
UG-A.1 UG-A.1 Purpose
UG-A.1.1
The Bahrain Monetary Agency ("the BMA"), in its capacity as the regulatory and supervisory authority for all financial institutions in Bahrain, issues regulations that licensees are legally obliged to comply with. These regulations are contained in the BMA Rulebook.
UG-A.1.2
The Rulebook is divided into 5 Volumes, covering different areas of financial services activity. Volume 1 (Conventional Banks) covers all conventional banks licensed by the Agency. Islamic banks are covered in Volume 2. Volume 3, covering insurance licensees, was issued in April 2005. Volume 4 is being issued in two phases, starting in April 2006. Representative offices of banks and specialised licensees are in Volume 5, which will be issued in 2007.
UG-A.1.3
This Users' Guide provides guidance on:
(a) the status and application of the Rulebook, with specific reference to Volume 1 (Conventional Banks);(b) the structure and design of the Rulebook; and(c) its maintenance and version control.UG-A.2 UG-A.2 Module history
UG-A.2.1
This User's Guide — Module UG — was first issued in July 2004 together with the rest of Volume 1 (Conventional Banks). All subsequent changes to this Module are dated with the month and year at the base of the relevant page and in the Table of Contents: Chapter UG-3 of this Module provides further details on Rulebook maintenance and version control.
UG-A.2.2
A list of recent changes made to this Module are detailed in the table below:
Module Ref. Change Date Description of Changes UG-A.2 1/2005 Update of changes to Module UG-1.2 1/2005 Clearer wording on rules and guidance UG-2.2 1/2005 Sections and paragraphs explained more fully UG-2.3 1/2005 Footers explained more fully UG-3.1 1/2005 Contents pages explained more fully UG-2.3 & UG-3.1 4/2006 Revised dating and update system
