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  • AU-4 AU-4 Accounting Standards

    • AU-4.1 AU-4.1 General Requirements

      • AU-4.1.1

        Conventional bank licensees must comply with International Financial Reporting Standards / International Accounting Standards.

        October 07

      • AU-4.1.2

        Branches of foreign bank licensees that do not, at the parent company level, apply IFRS/IAS are still required under Paragraph AU-4.1.1 to produce pro-forma accounts for the Bahrain branch in conformity with these standards. Where this requirement is difficult to implement, the overseas conventional bank licensee should contact the CBB in order to agree a solution.

        Amended: April 2020
        Amended: July 2013
        Added: October 07

      • AU-4.1.3

        Paragraph AU-4.1.1 requires conventional bank licensees that maintain Islamic 'windows' or units to apply relevant AAOIFI Financial Accounting Standards, depending on the type of Islamic finance contracts entered into. In particular, attention is drawn to AAOIFI Financial Accounting Standard 18, 'Islamic Financial Services Offered by Conventional Financial Institutions'.

        Amended: July 2013
        October 07