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  • BR-1.1 BR-1.1 Bahraini Conventional Banks Licensees

    • BR-1.1.1

      [This paragraph was deleted in April 2016.]

      Deleted: April 2016
      October 07

    • Annual Audited Financial Statements

      • BR-1.1.2

        All Bahraini Conventional Banks Licensees are required to submit to the CBB their annual audited financial statements within 3 months from the financial year end.

        Amended: April 2019
        Amended: April 2016
        Amended October 2010
        Amended January 2009
        Amended April 2008
        October 07

      • BR-1.1.2A

        All Bahraini Conventional Banks Licensees are required to submit to the CBB their draft year-end financial statements and must attend a meeting at the CBB with their supervisory point of contact (SPOC) and their external auditor to discuss such statements. The bank must obtain their audit committee's prior approval of the draft financial statements before submitting these to the CBB. Subsequent to the meeting with the CBB, the financial statements (subject to any adjustments) must be submitted to the Board for its approval and to the shareholders at the annual general meeting for ratification.

        Amended: April 2019
        Added: April 2016

    • Supplementary Information

      • BR-1.1.3

        In addition to the statements required in Paragraph BR-1.1.2, banks are also required to submit to the CBB the following information within 3 months of their financial year end:

        (a) The external auditors' management letter;
        (b) The audited accounts for the bank's ultimate holding company;
        (c) Audited financial statements of all subsidiaries (whether or not consolidated) and all overseas branches (including their accounting policies where these policies differ from those of the parent bank), along with their management letters;
        (d) The bank's group structure and the Bahrain office's internal organisation chart;
        (e) [This sub-paragraph was deleted in April 2019];
        (f) A list of subsidiaries, associated companies and affiliates of the bank, together with details of their locations and the amount of participation by the bank in these entities;
        (g) A reconciliation statement between the audited financial statements and the relevant prudential returns and monthly statistical returns;
        (h) [This Subparagraph was deleted in April 2013 and replaced with Paragraph BR-1.1.3B];
        (i) Report on controllers as required under Paragraph GR-5.1.9;
        (j) Any supplementary information required by the CBB;
        (k) [This Subparagraph was deleted in July 2017 and replaced with Paragraph BR-1.1.3C];
        (l) The remuneration agreed upon procedures as required under Paragraph BR-4A.3.1.
        (m) Report on the number of hours completed during the previous year in Continuous Professional Development (CPD) via CPD Form in Appendix BR-22 by the approved persons specifically board of directors and management as required under Paragraph TC-1.2.1.
        (n) [This Sub-paragraph was deleted in January 2022].
        Amended: January 2022
        Amended: April 2019
        Amended: October 2018
        Amended: July 2017
        Amended: April 2017
        Amended: July 2016
        Amended: October 2014
        Amended: January 2014
        Amended: April 2013
        Amended: April 2012
        Amended: October 2011
        Amended: July 2011
        Amended: April 2011
        Amended: October 2010
        January 2009
        October 07

      • BR-1.1.3A

        In instances where a bank has non-operational subsidiaries, the bank should contact its supervisory point of contact at the CBB to establish whether the requirements of Subparagraph BR-1.1.3(c) are applicable.

        Added: July 2016

      • BR-1.1.3B

        [This Paragraph was deleted in April 2023].

        Deleted: April 2023
        Amended: January 2022
        Amended: July 2017
        Amended: July 2016

      • BR-1.1.3C

        Banks are required to submit to the CBB an agreed upon procedures report concerning the annual disclosures required by Module PD, Section PD-1.3 and Chapter PD-6 (see also AU-3.2.3) within 4 months of their financial year end.

        Added: July 2017

    • Compliance

      • BR-1.1.4

        In addition to the provisions of Section AU-3.7, the audited financial statements or the annual report of these banks should be in full compliance with:

        (a) The International Financial Reporting Standards (IFRS); and
        (b) The disclosure requirements set out under Sections PD-1.2 and PD-1.3.
        Amended October 2010
        April 2008
        October 2007

    • Annual Report

      • BR-1.1.5

        Banks are reminded that they must submit a soft copy (electronic) of their full annual report to the CBB within 4 months of the end of their financial year (See PD-1.2.6).

        Amended: July 2016
        Amended: April 2012
        Amended: October 2010
        October 2009
        Added: January 2009