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  • AU-3.3 AU-3.3 Review of Compliance with relevant laws

    • AU-3.3.1

      Islamic bank licensees must arrange for their external auditors to review the bank's compliance with applicable laws and declare, in the auditors report, that no material violations of the following laws and regulations have taken place:

      (a) The Bahrain Commercial Companies Law of 2001;
      (b) The BMA Law 1973; and
      (c) The BMA's licensing conditions, and other rules contained in Volume 2 of the BMA Rulebook.

    • AU-3.3.2

      For the purposes of Rule AU-3.3.1, material violations are violations that have any material impact on the financial statements of the bank.