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  • PB-B.1 PB-B.1 Scope of Application

    • PB-B.1.1

      The 10 Principles of Business apply to all CBB Islamic bank licensees, in accordance with Paragraph PB-B.1.2. Principles 1-8 (Paragraphs PB-1.1 to PB-1.8 inclusive) also apply to all approved persons, in accordance with Paragraph PB-B.1.3.

      October 07

    • PB-B.1.2

      Principles 1 to 10 apply to activities carried out by the Islamic bank licensee, including activities carried out through overseas branches (if any). Principles 9 and 10 also take into account any activities of other members of the group of which the Islamic bank licensee is a member.

      October 07

    • PB-B.1.3

      Principles 1 to 8 apply to approved persons in respect of the controlled function for which they have been approved.

      October 07

    • PB-B.1.4

      Principles 1 to 8 do not apply to behaviour by an approved person with respect to any other functions or activities they may undertake. However, behaviour unconnected to their controlled function duties may nonetheless be relevant to an assessment of that person's fitness and propriety.

      October 07

    • PB-B.1.5

      The CBB's requirements regarding approved persons and controlled functions are located in Module LR (Licensing Requirements).

      Amended: January 2011
      October 2007