UG-A UG-A Introduction
UG-A.1 UG-A.1 Purpose
UG-A.1.1
The Bahrain Monetary Agency ("BMA"), in its capacity as the regulatory and supervisory authority for all financial institutions in Bahrain, issues regulations that licensees are legally obliged to comply with. These regulations are contained in the BMA Rulebook.
UG-A.1.2
The Rulebook is divided into 5 Volumes, covering different areas of financial services activity. Volume 2 (Islamic Banks) covers all Islamic banks licensed by the Agency. Conventional banks are covered in Volume 1, and representative offices of banks are covered in Volume 5, which will be issued in 2007.
UG-A.1.3
This Users' Guide provides guidance on:
(a) the status and application of the Rulebook, with specific reference to Volume 2 (Islamic Banks);(b) the structure and design of the Rulebook; and(c) its maintenance and version control.UG-A.2 UG-A.2 Regulation history
UG-A.2.1
This User's Guide — Module UG — was first issued in January 2005 together with the rest of Volume 2 (Islamic Banks). All subsequent changes to this Module are dated with the month and year at the base of the relevant page and in the Table of Contents: Chapter UG-3 of this Module provides further details on Rulebook maintenance and version control.
