BR-1.1 BR-1.1 Locally incorporated banks
BR-1.1.1
The content of this section is applicable to all locally incorporated banks licensed by the Agency in the Kingdom of Bahrain.
Annual reports
BR-1.1.2
All banks, referred to under paragraph BR-1.1.1, are required to submit to the Agency their audited annual reports within 3 calendar months of the date of such reports.
BR-1.1.3
The banks should ensure that the audited accounts reconcile with the following reports submitted to the Agency and that adequate explanations for any material differences between these accounts and reports are provided by the bank's external auditors (also see section AU-3.7):
(a) Prudential Information Returns for Islamic banks, and(b) Monthly Statements of Assets and Liabilities.Supplementary information
BR-1.1.4
In addition to the reports required in paragraph BR-1.1.2, banks are also required to submit to the Agency the following information:
(a) Copies of any report(s) submitted by the external auditors to the Management or Board of Directors including where applicable, the management letter/internal control report;(b) The audited accounts for the bank's ultimate holding company;(c) The audited accounts and management letters for subsidiaries and branches of the bank located outside Bahrain;(d) A list of subsidiaries, associated companies and affiliates of the bank, together with details of their locations and the amount of participation by the bank in these entities;(e) Any other supplementary information required by the Agency; and(f) Report on corporate governance framework attached to year-end PIRI (see Appendix BR 7 for sample report)
