PD-4 PD-4 Other public disclosure requirements
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
PD-4.1 PD-4.1 Disclosure of current effective rate of interest on consumer loans
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
PD-4.1.1
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The contents of this Section are applicable to all retail banks licensed by the Central Bank.
October 07Display of rates by conspicuous notice
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PD-4.1.2
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The Central Bank requires all retail banks to display, by a conspicuous notice, their current effective rate of interest on consumer loans. This requirement does not extend to overdrafts or revolving credit facilities such as credit cards.
October 07PD-4.1.3
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'Consumer loans' are defined in CM-8.3.2.
October 07PD-4.1.4
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'Conspicuous notice' means a written statement in both Arabic and English languages which is easily visible and legible and is displayed in all retail banks' premises open to the public.
October 07PD-4.1.5
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Retail banks are given discretion as to how the current effective rate of interest is expressed as a calculation (e.g. as a '
base rate ' or as a range of rates) as long as the conspicuous notice provides real and meaningful information to the customer.October 07Advertising of consumer loan facilities
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PD-4.1.6
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Any advertising of consumer loan facilities offered by the banks should specify only effective rates of interest (including all fees and charges) and not flat rates.
October 07PD-4.1.7
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
Banks are also asked to take special care to ensure that the content of any advertising material does not mislead or deceive the public in any way.
October 07PD-4.2 PD-4.2 Disclosure of base rate of interest on overdrafts and short-term loans
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
PD-4.2.1
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The content of this Section is applicable to all retail banks licensed by the Central Bank.
October 07PD-4.2.2
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The Central Bank requires all retail banks to display, by a conspicuous notice, their
base rate of interest on BD overdrafts and short-term revolving facilities to commercial customers. For a definition of 'conspicuous notice', refer to Section PD-4.1.October 07PD-4.2.3
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
Retail banks are left free to decide their own
base rate and to make changes to it as they consider appropriate.October 07PD-4.2.4
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
Retail banks must display a list of current charges including any standard charges and commissions that will be applied by the bank to individual services and transactions. See Section BC-4.1 for further details.
October 07PD-4.3 PD-4.3 Disclosure relating to Deposit Protection Scheme
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PD-4.3.1
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The content of this Section is applicable to all retail banks licensed by the Central Bank.
October 07PD-4.3.2
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The Central Bank requires all retail banks referring (directly or indirectly) to the protection of
deposits in related marketing materials and in general notices featured within banking halls and in account documentation, including Annual Reports, to prominently disclose the following statement:• Subject to the provisions thereof,deposits held with the Bahrain office of [name of the banking firm] are covered by the Deposit Protection Scheme established by the Central Bank of Bahrain regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board'.October 07PD-4.3.3
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
Retail banks should, in discussions and/or correspondence with new and prospective customers, bring the Deposit Protection Scheme and the protection afforded by it to the customer's notice.
October 07PD-4.3.4
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The Central Bank welcomes the introduction by the banks, at their discretion, of other appropriate means to promote the Deposit Protection Scheme as prominently as possible.
October 07
