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  • BR-A BR-A Introduction

    • BR-A.1 BR-A.1 Purpose

      • BR-A.1.1

        The purpose of this module is to set out the Agency's reporting requirements applicable to the banks as part of the Agency's ongoing supervision activities.

      • BR-A.1.2

        This module provides support for certain other parts of the Rulebook, mainly:

        (a) Principles of Business;
        (b) Public Disclosure;
        (c) Credit Risk Management;
        (d) Operational Risk Management;
        (e) Financial Crimes;
        (f) Capital Adequacy;
        (g) High Level Controls;
        (h) Business and Market Conduct;
        (i) Enforcement; and
        (j) Audit Firms.

      • BR-A.1.3

        Unless otherwise stated, all reports referred to in this module should be addressed to Islamic Financial Institutions Supervision Directorate of the Agency.

    • BR-A.2 BR-A.2 Key requirements

      • Regular reporting — Annual requirements

        • BR-A.2.1

          All locally incorporated banks in the Kingdom of Bahrain are required to submit to the Agency their annual reports (in compliance with the provisions set out under section BR-1.1) no later than the end of 3 calendar months from the date of such reports. In addition, these banks are also required to submit supplementary information (as listed under section BR-1.1) to the Agency.

        • BR-A.2.2

          All Bahrain branches of foreign banks are required to submit to the Agency their annual audited financial statements (in compliance with the provisions set out under section BR-1.2) no later than the end of 3 calendar months from the date of such statements. In addition, these banks are also required to submit supplementary information (as listed under section BR-1.2) to the Agency.

      • Regular reporting — Semi-annual requirements

        • BR-A.2.3

          All FCB Bahrain branches of foreign banks are required to submit to the Agency their Balance Sheet and Profit and Loss Accounts (in compliance with the provisions set out under section BR-2.1) no later than the end of 8 weeks from the date of such statements.

      • Regular reporting — Quarterly requirements

        • BR-A.2.4

          All locally incorporated banks in the Kingdom of Bahrain are required to submit to the Agency the following information on a quarterly basis:

          (a) PIR Forms (in accordance with the provisions set out under section BR-3.1);
          (b) reviewed (unaudited) quarterly financial statements (in accordance with the provisions set out under section BR-3.1); and
          (c) large exposure returns (in accordance with the provisions set out under section BR-3.1).

        • BR-A.2.5

          All Bahrain branches of foreign banks are required to submit to the Agency PIRB Forms (in accordance with the provisions set out under section BR-3.2).

        • BR-A.2.6

          All banks licensed by the Agency in the Kingdom of Bahrain are required to submit to the Agency quarterly statistical returns as required under section BR-3.3).

      • Regular reporting — Monthly requirements

        • BR-A.2.7

          All banks licensed by the Agency in the Kingdom of Bahrain are required to submit to the Agency monthly statistical returns as required under section BR-4.1).

        • BR-A.2.8

          All locally incorporated banks listed on the Bahrain Stock Exchange are required to report to the Capital Markets Supervision Directorate of the Agency, on a monthly basis, information relating to their Directors' interests in the shares of locally incorporated banks listed on the Bahrain Stock Exchange (in accordance with the provisions set out under section BR-3.1).

      • Ad-hoc reporting and notification

        • BR-A.2.9

          All banks licensed by the Agency in the Kingdom of Bahrain are required to notify and report to the Agency on the following matters:

          (a) large exposures (section BR-5.1);
          (b) changes in strategy and/or corporate plan (section BR-5.1);
          (c) changes in management (section BR-5.1);
          (d) changes in dealing staff (section BR-5.1);
          (e) appointment of a Compliance Manager/Officer (section BR-5.1);
          (f) money laundering and suspicious transactions (section BR-5.1);
          (g) promotion of financial products and services (section BR-5.1); and
          (h) authorised signatories (section BR-5.1).

        • BR-A.2.10

          All locally incorporated banks are required to give the Agency, immediate written notification of any actual breach by such bank of the minimum Risk Asset Ratio(s) (RAR) in accordance with section BR-5.2.

        • BR-A.2.11

          All FCBs licensed by the Agency in the Kingdom of Bahrain are required to notify and report to the Agency on the following matters:

          (a) introduction of new and expanded customers and products (section BR-5.3); and
          (b) accounts for charity organisations (section BR-5.3).

    • BR-A.3 BR-A.3 Regulation history

      • BR-A.3.1

        This module was first issued in January 2005 as part of the initial launch of the BMA Rulebook Volume for Islamic banks. All regulations in this volume have been effective since this date. All subsequent changes are dated with the month and year at the base of the relevant page and in the Table of Contents. Chapter UG-3 of Module UG provides further details on Rulebook maintenance and control.

      • BR-A.3.2

        The most recent changes made to this module are detailed in the table below:

        Summary of changes

        Module Ref. Change Date Description of Changes
        BR-5.1.13 01/04/05 Notification of fraud
        BR-5.1 01/10/05 New threshold for reporting of transfers by charities and prior approval of the appointment of compliance officer/manager.
        BR-5.1.3 01/01/06 Addition to changes in strategy and or corporate plan
        BR-5.1.4 01/01/06 Addition of contact details to management information details
        BR-3.3, BR-4.1 & BR-5.1.14 01/04/06 Revised statistical returns instructions and new notification requirement for material losses
        BR-3.2 01/07/06 Deletion of requirement for Form SR6
        BR-4.1 01/07/06 Deletion of references to precious metals and commodities returns. Transfer of reserve requirements material from BR-4.2 to BR-4.1.
        BR-4.2 01/07/06 Deletion of reserve requirements material (moved to BR-4.1).
        BR-3.1.3 01/07/06 Hard copies of PIRI no longer required
        BR-4.1.3 01/07/06 Revised submission date for statistical returns
        BR-5.1.9 01/07/06 Minor changes reflecting change of Compliance Unit to Directorate
        BR-5.3.3 01/07/06 Deleted since duplicated BR-5.1.15

      • Evolution of the Module

        • BR-A.3.3

          Prior to the development of the Rulebook, the Agency had issued various circulars representing regulations covering different aspects of BMA reporting structure. These circulars were subsequently compiled into a folder "Part 2: Reports" which was part of the information pack ("The Establishment, regulations and supervision of banks and other financial institutions in Bahrain") issued in 1997. The contents of that information pack have now been incorporated in this module.

        • BR-A.3.4

          In addition, certain circulars have been incorporated in this module that supplement the BMA reporting requirements set out in the information pack mentioned in paragraph BR-A.3.3. These circulars and their evolution into this module are listed below:

          Circular Ref. Date of Issue Module Ref. Circular Subject
          BC/4/99
          (partial)          		 17 Mar 1999 BR-1.1, BR-3.1 Annual Accounts for the Year Ending 31 December 1999
          BC/12/98 28 Sep 1998 BR-1.1 Accounting and Auditing Standards for Islamic Financial Institutions
          no reference
          (partial)          		 Apr 1981 BR-1.1 Precious Metals and Commodities
          ODG/329/03 10 Sep 2003 BR-1.1 Corporate Governance Reporting
          EDBC/1/95 26 Aug 1995 BR-1.2 Re: Provisioning Policies of Branches of Foreign Banks in Bahrain
          BC/1/99
          (partial)          		 22 Feb 1999 BR-2.1 Enhancing Bank Transparency
          BC/20/99
          (partial)          		 28 Sep 1999 BR-3.1 Enhancing Islamic Banks Transparency
          ER/118/98 2 Feb 1998 BR-3.3, BR-4.1 Revised Statistical Returns
          ER/247/98 22 Mar 1998 BR-3.3, BR-4.1 Revised Statistical Returns
          OG/89/88 30 Jun 1988 BR-4.2 Reserve Balances
          BMA/751/93
          (partial)          		 8 Jul 1993 BR-4.3 Directors' Interest in the Shares of, and the Unaudited Quarterly Financial Statements of, Locally Incorporated Banks Quoted on the Bahrain Stock Exchange.
          BC/904/95
          (partial)          		 24 Jul 1995 BR-5.1 Notification to, and approval from the Agency for certain matters
          BC/309/94 28 Mar 1994 BR-5.1 Management Personnel
          BMA/1287/94
          (partial)          		 6 Nov 1994 BR-5.1 Foreign Exchange, Securities and Other Dealers
          BC/13/99
          (partial)          		 15 Jun 1999 BR-5.1 Compliance, Risk Management and Internal Controls
          EDBC/6/01
          (partial)          		 14 Oct 2001 BR-5.1 Re: Money Laundering Regulation
          EDBC/73/96
          (partial)          		 1 May 1996 BR-5.1 Explanatory note on the promotion of Banking and Financial Products offered in/from Bahrain by Means of Incentives etc.
          BMA(4)/91/832 22 Oct 1991 BR-5.1 Specimen Signatures
          OG/45/88 13 Mar 1988 BR-5.2 Write-Off — Credit Facility
          ODG/145/92 18 Aug 1992 BR-5.3 New or expanded products and facilities in the Retail Banking Field
          BC/3/00 5 Mar 2000 BR-5.3 Re: Accounts for Charity Organisations
          BC/09/01 26 Nov 2001 BR-1.1, BR-3.1, BR-5.2 New Prudential Regulations for Islamic Banks

      • Effective date

        • BR-A.3.5

          The contents in this module are effective from the date of the original circular (BR-A.3.4) or from the date of changes shown in BR-A.3.2.