Back Custom print Link Text Only Rich Text Print

  • CM-8.1 CM-8.1 Overview

    • CM-8.1.1

      This Chapter sets out various requirements regarding the provision of consumer finance within the Kingdom of Bahrain, by the CBB licensees. The aim of these requirements is to encourage:

      (a) Prudent lending by licensees providing consumer finance; and
      (b) The transparent disclosure of the full costs and terms on which licensees offer consumer finance.
      Amended: January 2011
      October 2007

    • Application Date

      • CM-8.1.2

        The content of this Chapter is to be applied to all consumer finance facilities entered into or renewed after 1 January 2005. The application date of the "Code of Best Practice on Consumer Credit and Charging" is 1 September 2007. All conventional banks which offer consumer finance facilities to residents of Bahrain must follow the Code after 1 September 2007. Failure to observe the requirements of this Chapter or the Code may result in Enforcement Action under module EN. The Code is attached as Appendix CM-2 in Part B of the Rulebook.

        October 07