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  • GR-3.1 GR-3.1 BMA Non-Objection

    • GR-3.1.1

      Bahraini conventional bank licensees must obtain a letter of no-objection from the BMA to any dividend proposed, before submitting a proposal for a distribution of profits to a shareholder vote.

    • GR-3.1.2

      The BMA will grant a no-objection letter where it is satisfied that the level of dividend proposed is unlikely to leave the licensee vulnerable — for the foreseeable future — to breaching the BMA's capital requirements, taking into account (as appropriate) trends in the licensee's business volumes, expenses, overall performance and the adequacy of provisions against impaired loans or other assets.

    • GR-3.1.3

      To facilitate the prior approval required under Paragraph GR-3.1.1, conventional bank licensees subject to GR-3.1.1 should provide the BMA with a copy of the proposed agenda for the annual general meeting or other special meeting, noting the licensee's intended declared dividends for the coming year.

    • GR-3.1.4

      Conventional bank licensees must also comply with the provisions contained in Articles 72 to 75 of the BMA Law 1973.