• OM-6.2 OM-6.2 Transaction Records

    • OM-6.2.1

      Conventional bank licensees must keep completed transaction records for as long as they are relevant for the purposes for which they were made (with a minimum period in all cases of five years from the date when the transaction was completed — see Module Section FC-7.1). Records of completed transactions must be kept whether in hard copy or electronic format, for at least five years from the date of the transaction as per the Legislative Decree No. (54) of 2018 with respect to Electronic Transactions "The Electronic Communications and Transactions Law" and its amendments.

      Added: January 2020

    • OM-6.2.2

      Rule OM-6.2.1 applies to all transactions entered into by a Bahraini Conventional bank licensee, whether booked in Bahrain or in an overseas branch. With respect to overseas Conventional bank licensees, it applies only to transactions booked in the Bahrain branch.

      Added: January 2020

    • OM-6.2.3

      In the case of overseas Conventional bank licensees, Rule OM-6.2.1 therefore only applies to business booked in the Bahrain branch, not in the rest of the company.

      Added: January 2020