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    • Bahrain domiciled CIU(s)

      Bahrain domiciled CIUs are undertakings where:

      (a) The legal form of the CIU is established under the laws of the Kingdom of Bahrain; and
      (b) The CIU documents and contractual agreements are governed by the Laws of the Kingdom of Bahrain.
      Added: July 2012

    • Bahraini Conventional bank licensee(s)

      As defined in LR-A.1.8.

    • Bahraini Conventional retail banks

      Banks which undertake the regulated banking services of (a) to (n) in Paragraph LR-1.3.1 for both residents and non-residents of the Kingdom of Bahrain.

      Added: July 2017

    • Bahraini retail bank licensee(s)

      [Deleted in July 2017]

      Deleted: July 2017
      Added: April 2017

    • Bahraini Conventional wholesale banks

      Banks which undertake the regulated banking services of (a) to (n) in Paragraph LR-1.3.1 for both residents and non-residents of the Kingdom of Bahrain, with certain restrictions for residents as defined under Paragraphs LR-1.2.13, LR-1.2.16 and LR-1.2.19.

      Added: July 2017

    • Bahraini wholesale bank licensee(s)

      [Deleted in July 2017]

      Deleted: July 2017
      Added: April 2017

    • Bahraini conventional retail bank licensee

      A Bahraini conventional bank licensee, licensed as a retail bank (see Volume 1, Section LR-1.2)

    • Bahraini conventional wholesale bank licensee

      A Bahraini conventional bank licensee, licensed as a wholesale bank (see Volume 1, Section LR-1.2.)

    • Bank

      Any bank fully recognized as such by the relevant regulator of the country in which it is registered, except such a bank which:

      a. In the opinion of the central bank, is not adequately supervised by the relevant banking supervisory authority;
      b. The license or other authorization of which to carry on banking business is, for the time being, suspended.
      Added: October 2018

    • Banking group

      Groups that engage predominantly in banking activities and are registered as banks in the relevant jurisdiction.

      Amended: October 2018
      Added: January 2015

    • Base rate

      The interest rate that underpins lending to bank customers. Banks lend to their customers at basis points over base rates. Not to be confused with prime rate which is the rate at which a bank will lend to its most creditworthy customers.

    • Basel Capital Accord

      Issued initially in July 1988 by the Basel Committee on Banking Supervision, the Basel Capital Adequacy Accord is a risk based capital adequacy methodology that defines the components of capital and applies a series of risk weights and capital charges to banks' assets and holdings of financial instruments. The Accord aims to increase the stability of the international financial system through having a single internationally acknowledged measurement of a bank's capital expressed as a percentage of its financial risks. It also serves to put internationally active banks on an equal competitive footing in respect of the measurement of their capital adequacy.

    • Basel Committee

      The Basel Committee was founded in 1974 by the Bank for International Settlements (BIS). It provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. It seeks to do so by exchanging information on national supervisory issues, approaches and techniques, with a view to promote common understanding.

      Amended: October 2012

    • Beneficial Owner

      (a) In the context of legal persons, beneficial owner refers to the natural person(s) who ultimately owns or controls a customer, and/or the natural person on whose behalf a transaction is being conducted. It also includes those natural persons who exercise ultimate effective control over a legal person. Only a natural person can be an ultimate beneficial owner, and more than one natural person can be the ultimate beneficial owner of a given legal person.
      (b) In the context of legal arrangements, beneficial owner includes: (i) the settlor(s); (ii) the trustee(s); (iii) the protector(s) (if any); (iv) each beneficiary, or where applicable, the class of beneficiaries and objects of a power; and (v) any other natural person(s) exercising ultimate effective control over the arrangement. In the case of a legal arrangement similar to an express trust, beneficial owner refers to the natural person(s) holding an equivalent position to those referred above. When the trustee and any other party to the legal arrangement is a legal person, the beneficial owner of that legal person should be identified.
      (c) Reference to “ultimately owns or controls” and “ultimate effective control” refer to situations in which ownership/control is exercised through a chain of ownership or by means of control other than direct control.
      (d) Reference to “ultimate effective control” over trusts or similar legal arrangements includes situations in which ownership/control is exercised through a chain of ownership/control.
      Added: October 2017
      Amended: June 2025

    • Branch

      A place of business which forms a legally dependent part of a bank and which carries out directly all or some of the transactions inherent in the business of the relevant bank. Conventional bank licensees operating as a branch are called overseas conventional bank licensees for the purposes of Volume 1 (see LR-A.1.8).

    • Branches of foreign bank licensees

      Foreign banks branches operating in the Kingdom of Bahrain.

      Added: July 2017

    • Bonds

      An instrument creating or acknowledging a present or future indebtedness (i.e. debentures, debenture stock, loan stock, bonds, certificates of deposit and any other instruments creating or acknowledging a present or future indebtedness), but excluding:

      (a) An instrument creating or acknowledging indebtedness for, or for money borrowed to defray, the consideration payable under a contract for the supply of goods and services;
      (b) A cheque or other bill of exchange, a bankers draft or a letter of credit (but not a bill of exchange accepted by a banker);
      (c) A banknote, a statement showing a balance on a bank account, or a lease or other disposition of property; and
      (d) A contract of insurance.
      Amended: January 2011