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  • CM-7.1 CM-7.1 Write-offs

    • CM-7.1.1

      All Bahraini conventional bank licensees must notify the CBB of any write-off of an exposure of an amount in excess of BD 100,000, or its equivalent in foreign currency.

      Amended: October 2016
      Amended: October 2015
      Amended: July 2011
      Amended: January 2011
      October 2007

    • CM-7.1.2

      Such notification should be accompanied by documentary evidence showing, beyond reasonable doubt, that the customer does not possess the resources to fulfil the outstanding obligation.

      October 07

    • CM-7.1.3

      All Bahraini conventional bank licensees must obtain the CBB's written no-objection before writing off any of the following:

      (a) Exposures to or guaranteed by any approved person of the bank or any other CBB licensee;
      (b) [This Subparagraph was deleted in October 2016];
      (c) Exposures to controllers, subsidiaries, associates and SSB members of the bank;
      (d) [This Subparagraph was deleted in October 2015];
      (e) Exposures to any business entity for which the bank or any of its approved persons is a related party such as a board member, a shareholder owning 5% or more, a person assuming a managerial role, a guarantor; and
      (f) Exposures to any controller of another CBB licensee (as defined in Section GR-5.2 — Definition of Controller).
      Amended: October 2016
      Amended: October 2015
      Amended: July 2011
      Amended: January 2011
      April 2008
      October 2007

    • CM-7.1.3A

      All branches of foreign banks must obtain the CBB's written no-objection before writing off the exposures listed in CM-7.1.3 from (a) to (f) except for (c).

      Added: October 2016

    • CM-7.1.4

      All conventional bank licensees must notify the CBB of any applicable exposures outlined in Paragraph CM-7.1.3 that are classified as non-performing loans.

      Amended: October 2016
      Added: October 2015

    • CM-7.1.5

      In order to comply with Subparagraphs CM-7.1.3 (a) and (f), conventional bank licensees should refer to the CBB register on the CBB Website which contains a list of approved persons and controllers of all CBB licensees.

      Amended: October 2016
      Added: October 2015