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  • BC-8.1 BC-8.1 Scope of Application in Relation to Customer Categories

    • BC-8.1.1

      This Chapter provides for two categories of customers, and applies different levels of protection to each, depending on their level of sophistication.

      Added: April 2008

    • BC-8.1.2

      The scope of application of this Chapter BC-8 with regards to customer categories is as follows:

      Section Subject Matter Customer Category
      BC-8.3 Overarching Principles All categories.
      BC-8.4 Customer Classification All categories.
      BC-8.5 Marketing and Promotion All categories; BC-8.5.3 and BC-8.5.4 apply to retail customers only.
      BC-8.6 Accepting Customers Retail customers only.
      BC-8.7 Suitability Retail customers only.
      BC-8.8 Disclosure of Information All categories; BC-8.8.5 to BC-8.8.12 apply to retail customers only.
      BC-8.9 Dealing and Managing All categories; various Rules apply to retail customers only.
      BC-8.10 Reporting to Customers All categories.
      BC-8.11 Complaints All categories.
      BC-8.12 Conflicts of Interest All categories.
      BC-8.13 Appendix All categories; various Paragraphs apply to retail customers only.


      Added: April 2008

    • Overseas Branches and Subsidiaries

      • BC-8.1.3

        Locally incorporated conventional bank licensees must ensure that their branches and subsidiaries operating in foreign jurisdictions comply, at a minimum, with local conduct of business standards and regulatory requirements (where applicable).

        Added: April 2008

      • BC-8.1.4

        For branches of foreign banks located in Bahrain, these requirements only apply to the business and customers of the Bahrain branch.

        Amended: January 2011
        Added: April 2008

      • BC-8.1.5

        The CBB encourages locally incorporated conventional bank licensees to apply — with respect to their overseas branches and subsidiaries — conduct of business standards at least equivalent to those set out in this Module. Where this is not the case, then the CBB will consider any potential risk to the conventional bank licensee that may arise through adverse reputational or other consequences.

        Amended: January 2011
        Added: April 2008