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  • PD-4 PD-4 Other public disclosure requirements

    • PD-4.1 PD-4.1 Introduction

      • PD-4.1.1

        The purpose of the contents of this chapter is to set out the Agency's requirements relating to other public disclosure of information by the banks, not covered in chapters PD-1 to PD-3.

    • PD-4.2 PD-4.2 Disclosure of key terms relating to a consumer finance agreement

      • PD-4.2.1

        The content of this section is applicable to all FCBs licensed by the Agency.

      • PD-4.2.2

        All banks referred to under paragraph PD-4.2.1 are required by the Agency to follow the disclosure requirements related to consumer finance as set out under section CM-7.5.

    • PD-4.3 PD-4.3 Disclosure of charges on short-term financing facilities

      • PD-4.3.1

        The content of this section is applicable to all FCBs licensed by the Agency.

      • PD-4.3.2

        The Agency requires all FCBs to display, by a conspicuous notice, their scale of charges on BD short-term revolving facilities to commercial customers.

      • PD-4.3.3

        'Conspicuous notice' means a written statement in both Arabic and English languages which is easily visible and legible and is displayed in all FCB premises open to the public.

      • PD-4.3.4

        FCBs are left free to decide their own basis of charging and to make changes to it as they consider appropriate.

      • PD-4.3.5

        FCBs must display a list of current charges including any standard charges and commissions that will be applied by the bank to individual services and transactions. See section BC-4.2 for further details.

    • PD-4.4 PD-4.4 Disclosure relating to Deposit Protection Scheme

      • PD-4.4.1

        The content of this section is applicable to all FCBs licensed by the Agency.

      • PD-4.4.2

        The Agency requires all FCBs referring (directly or indirectly) to the protection of deposits in related marketing materials and in general notices featured within banking halls and in account documentation, including Annual Reports, to prominently disclose the following statement:

        "Subject to the provisions thereof, deposits held with the Bahrain office of [name of the banking firm] are covered by the Deposit Protection Scheme established by the Bahrain Monetary Agency regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board".

      • PD-4.4.3

        FCBs should, in discussions and/or correspondence with new and prospective customers, bring the Deposit Protection Scheme and the protection afforded by it to the customer's notice.

      • PD-4.4.4

        The Agency welcomes the introduction by the banks, at their discretion, of other appropriate means to promote the Deposit Protection Scheme as prominently as possible.

      • PD-4.4.5

        For detailed guidance on the Deposit Protection Scheme's documentation requirements, see chapter CP-2.