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  • GR-A GR-A Introduction

    • GR-A.1 GR-A.1 Purpose

      • Executive Summary

        • GR-A.1.1

          The General Requirements Module presents a variety of different requirements that are not extensive enough to warrant their own stand-alone Module, but for the most part are generally applicable. These include general requirements on books and records; on the use of corporate and trade names; and on controllers. Each set of requirements is contained in its own Chapter: a table listing these and their application to licensees is given in Chapter GR-B.

          October 07

      • Legal Basis

        • GR-A.1.2

          This Module contains the Central Bank of Bahrain's ('CBB') Regulation No.(31) of 2008 and Directive (as amended from time to time) governing bank control and general requirements and is issued under the powers available to the CBB under Articles 38 and 52 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). The Module also contains requirements pertaining to controllers as prescribed under Resolution No.(43) of 2011 governing the conditions of granting a license for the provision of regulated services and is issued under the powers available to the CBB under Article 44(c). The requirements of Resolution No.(33) for the year 2012 with respect to the issuance of the Regulation setting the procedures for processing applications of banks to transfer financial services business in the Kingdom of Bahrain are included in Chapter GR-4. The Regulation, Resolutions and Directive in this Module are applicable to all conventional bank licensees.

          Amended: October 2012
          Amended: October 2011
          Adopted: January 2011

        • GR-A.1.3

          For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.

          Adopted: January 2011

    • GR-A.2 GR-A.2 Module History

      • Evolution of Module

        • GR-A.2.1

          This Module was first issued in July 2006, with immediate effect, as a new Module aimed at aligning the structure and contents of Volume 1 with other Volumes of the CBB Rulebook. All subsequent changes to this Module are annotated with the end-calendar quarter date in which the change was made: Chapter UG-3 provides further details on Rulebook maintenance and version control.

          Amended: January 2014
          October 07

        • GR-A.2.2

          The October 2007 version incorporates the requirements relating to controllers, previously contained in Chapter HC-2 of the High-Level Controls Module. It also expands on certain requirements contained in the Central Bank of Bahrain and Financial Institutions Law (Decree No. 64 of 2006).

          October 07

        • GR-A.2.3

          A list of recent changes made to this Module is detailed in the table below:

          Module Ref.Change DateDescription of Changes
          GR-4, GR-5.4, GR-710/2007Administrative changes due to implementation of CBB Law. Revised notification deadlines etc.
          GR-110/2007This Chapter has been relocated to OM Module.
          GR-810/2007CBB Fees Chapter has been transferred to Module LR.
          GR-504/2008New notification and approval requirements in respect of "Controllers"
          GR-5.301/2010Revised approval threshold for controllers which are financial institutions.
          GR01/2011Various minor amendments to ensure consistency in CBB Rulebook.
          GR-A.1.2 and A.1.301/2011Added legal basis.
          GR-3.1.104/2011Clarified Rule pertaining to announcement of dividend.
          GR-4.1204/2011Deleted reference to outsourcing.
          GR-4.107/2011Regulation under consultation.
          GR-A.1.2 and GR-5.3.5A10/2011New reference added to reflect the issuance of Resolution No.(43) of 2011, and reference made to controllers.
          GR-3.110/2011Clarified guidance Paragraphs on CBB's non-objection for dividends.
          GR-5.2.210/2011Clarified the definition of "associate".
          GR-710/2011Chapter redrafted to be consistent with other Volumes of the CBB Rulebook.
          GR-5.3.807/2012Percentage amended to be consistent with Paragraph GR-5.3.5.
          GR-A.1.210/2012Updated legal basis.
          GR-410/2012Amended to reflect the issuance of Resolution No.(33) of 2012.
          GR-4.2.301/2013Specified timeline for CBB preliminary assessment.
          GR-5.4.1 and GR-5.4.304/2013Changed Rules to Guidance.
          GR-507/2013Changes made to be in line with Regulation No.(31) for the year 2008.
          GR-A.2.101/2014Deleted repetitive sentence.
          GR-7.1.1210/2016Added additional requirements for cessation of business to be in line with all Volumes.
          GR-5.1.701/2017Consistency of notification timeline rule on Controllers with other Volumes of the CBB Rulebook.
          GR-4.2.607/2017Corrected cross reference.
          GR-3.1.310/2017Amended paragraph and changed from Guidance to Rule.
          GR-604/2019Added new Section on Open Banking.
          GR-B.1.204/2020Amended Paragraph.
          GR-B.1.304/2020Amended Paragraph.
          GR-2.1.204/2020Amended Paragraph.
          GR-4.1.504/2020Amended Paragraph.
          GR-4.3.2 (d)04/2020Amended sub-Paragraph.
          GR-5.1.104/2020Amended Paragraph.
          GR-5.1.1004/2020Amended Paragraph.
          GR-7.1.404/2020Amended Paragraph.
          GR-7.1.1204/2020Amended Paragraph.
          GR-901/2021Added a new Chapter on Prepaid Cards.
          GR-507/2021Deleted Chapter and superseded by Resolution No. 16 of 2021.
          GR-6.1.307/2021Amended Paragraph.
          GR-6.1.507/2021Amended Paragraph.
          GR-6.1.707/2021Amended Paragraph.
          GR-6.1.807/2021Added a new Paragraph on access to customer information and data.
          GR-6.2.107/2021Amended Paragraph.
          GR-6.2.307/2021Amended Paragraph.
          GR-6.2.607/2021Amended Paragraph.
          GR-6.3.807/2021Paragraph moved to GR-6.1.7.
          GR-6.3.1207/2021Amended Paragraph.
          GR-6.3.1307/2021Amended Paragraph.
          GR-6.3.1407/2021Amended Paragraph.
          GR-6.3.1507/2021Amended Paragraph.
          GR-6.4.107/2021Amended Paragraph.
          GR-6.4.207/2021Amended Paragraph.
          GR-6.507/2021Deleted Section.
          GR-2.1.101/2022Amended Paragraph.
          GR-6.1.504/2022Amended Paragraph on MCCs.
          GR-6.1.804/2022Amended Paragraph on payment data provided including MCCs.
          GR-6.2.504/2022Amended Paragraph on Bahrain Open Banking Framework Developer Portal.
          GR-307/2023Amended Chapter on Dividends and Profit Repatriation.
          GR-301/2024Amended Chapter on Dividends and Profit Repatriation.
          GR-6.1.305/2024Amended Paragraph on access grant to PISPs and AISPs.
          GR-6.1.805/2024Amended Paragraph on sharing information of customer account activity with PISPs and AISPs.
          GR-6.1.8A05/2024Added a new Paragraph on access timeline.
          GR-6.3.1305/2024Amended Paragraph on customer security measures.
          GR-6.4.105/2024Amended Paragraph on banks consistency with security guidelines.
          GR-6.4.1A05/2024Added a new Paragraph on sharing customer information compliance.

      • Superseded Requirements

        • GR-A.2.4

          This Module supersedes:

          Circular / other reference Provision Subject
          Module LR (April 2006 version) LR-6: Record-keeping Keeping Record-keeping keeping requirements were moved to GR-1, and edited down to simplify and avoid duplication of record-keeping keeping requirements contained in Module FC.
          Module HC (April 2006 version) HC-2: 'Fit and Proper Requirement' Requirements relating to controllers were moved to GR-5. Remaining 'fit and proper' elements regarding Directors and key employees of licensees were retained in HC-2, in a re-drafted form.
          October 07