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  • BR-2.2 BR-2.2 Bahraini Conventional Bank Licensees

    • BR-2.2.1

      The content of this Section is applicable to all Bahraini Conventional Banks Licensees licensed by the CBB in the Kingdom of Bahrain.

      Amended: April 2019
      Added: October 2011

    • Compliance with Module PD

      • BR-2.2.2

        The financial statements mentioned under Paragraph BR-3.1.8 should be in compliance with the requirements set out under Section PD-3.1.

        Added: October 2011

      • BR-2.2.3

        In addition to the financial statements required in Paragraph BR-3.1.8, banks are also required to submit to the CBB the following information within two months of the end of the half-year:

        (a) A copy of the disclosures required by Paragraph PD-3.1.6; and
        (b) An agreed-upon procedures report concerning the completeness of disclosures required by Paragraph PD-3.1.6 (see also AU-3.2.4).
        Added: October 2011

    • Report on Private Placements

      • BR-2.2.4

        When acting as an issuer, promoter or manager of a private placement of securities, Bahraini conventional bank licensees must provide on a semi-annual basis to investors and the CBB a progress report on the private placement. The semi-annual reports are to be provided as of 30th June and 31st December and must be submitted to the investors and the CBB within three months of the reporting period.

        Amended: April 2015
        Added: April 2014

      • BR-2.2.5

        The reports referred to in Paragraph BR-2.2.4 are to be issued following the issuance or distribution of a PPM for the solicitation of funds from investors.

        Added: April 2014

      • BR-2.2.6

        The requirements for the report on private placements are in addition to any requirements outlined in Module OFS (Offering of Securities) under Volume 6 (Capital Markets).

        Added: April 2014

      • BR-2.2.7

        Bahraini conventional bank licensees may opt to issue the required report on a more frequent basis.

        Added: April 2014

      • BR-2.2.8

        The report required under Paragraph BR-2.2.4 must be issued for private equity purchases of existing companies as well as for real estate and other projects under development and must follow the requirements of Appendix BR-18 under Part B of Volume 1.

        Added: April 2014