• PD-5 PD-5 Public Disclosure via the Internet

    • PD-5.1 PD-5.1 Publication and disclosure of financial results

      • Existing requirements

        • PD-5.1.1

          All locally incorporated banks are required to disclose their quarterly financial statements to the public within 60 days of the end of each quarter. Disclosure to the public should be by way of an announcement in the local press of the balance sheet and profit and loss account (with certain other additional disclosures as outlined in chapters PD-1 to PD-4).

      • Criteria for application for disclosure via the internet

        • PD-5.1.2

          Non-listed locally incorporated IBs and OBUs may apply to the Agency to disclose their quarterly financial statements via the internet. If a bank wishes to cease disclosure of quarterly financial statements via the local press, it must satisfy the following criteria:

          (a) The bank has no shareholders resident in Bahrain.
          (b) The bank has no customers resident in Bahrain. Customers include borrowers, depositors, investment account holders or persons from whom the bank earns fees or commissions. "Customers" in this context would not include other banks, but would include Bahraini corporations, the Government of Bahrain and its agencies, and private individuals (whether high net worth or not).
          (c) The bank does not market itself in any way to residents of Bahrain. In particular, the bank should not market funds or other financial products to residents, even if the bank has no on balance sheet assets or liabilities arising from Bahraini residents.

        • PD-5.1.3

          Banks meeting all of the above criteria may apply to the Agency to disclose their quarterly financial statements by way of their website instead of by way of the local press.