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  • Compliance

    • PD-1.3.36

      The Annual Report must include a declaration by the external auditor that it did not come across any violations of the requirements below during the course of its audit work that would have any material negative impact on the financial position of the bank:

      (a) The Bahrain Commercial Companies Law (as amended);
      (b) The CBB Law where a violation might have had a material negative effect on the business of the bank or on its financial position;
      (c) The Regulations and Directives issued by the CBB, including Volume 6 (Capital Markets); and
      (d) The Rulebook of the licensed exchange and associated Resolutions, Rules and Procedures.
      Amended: July 2013
      Amended: January 2012
      Amended: October 2011
      Amended: April 2011
      Amended: January 2011
      Amended October 2010
      April 2008

    • PD-1.3.37

      The Annual Report must disclose the amount of any penalties paid to the CBB during the period of the report together with a factual description of the reason(s) given by the CBB for the penalty (see Section EN-1.3). Bahraini conventional bank licensees which fail to comply with this requirement will be required to make the disclosure in the annual report of the subsequent year and will be subject to an enforcement action for non-disclosure.

      Amended: October 2019
      Amended: October 2010
      April 2008