BR-A.3 BR-A.3 Module History
BR-A.3.1
This Module was first issued in January 2005 by the BMA as part of the initial launch of the CBB Rulebook Volume for Islamic banks. All regulations in this volume have been effective since this date. Any material changes that have subsequently been made to this Module are annotated with the calendar quarter date in which the change is made: UG-3 provides further details on Rulebook maintenance and version control.
October 07BR-A.3.2
When the CBB replaced the BMA in September 2006, the provisions of this Module remained in force. Volume 2 was updated in October 2007 to reflect the switch to the CBB; however, new calendar quarter dates were only issued where the update necessitated changes to actual requirements.
October 07BR-A.3.3
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-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. BR-A.1 10/2007 New Rule BR-A.1.4 introduced categorising this Module as a Directive. BR-6 10/2007 New Rule allowing access to premises per the provisions of the CBB Law. BR-A.2, BR-1.1, BR-3.1, BR-4.1, BR-5.2 04/08 New reporting deadlines, new 7% reserves ratio, new requirement for checking of PIRs by external auditors, new guidance on reporting of write-offs. BR-3.1.4 01/2009 New Agreed Upon Procedures report for PIR BR-1.1 01/2009 Revised guidance concerning annual reports and annual audited financial statements BR-4.1.4b 07/2009 The minimum daily cash reserve balance with the CBB brought back to 5% from 7% BR-A.2.8 and BR-4.3.4 10/2009 New reporting arrangements for exposures to connected counterparties. BR-A.2.9 and BR-5.1.16 04/2010 Approval for material transfers of assets or liabilities BR-A.2.2 10/2010 Due date changed to 3 months to be consistent in the Rulebook. BR-1.1.4 and BR-1.2.3 10/2010 Required information updated to be consistent in the Rulebook. BR-1.2.5 10/2010 Changed to a Rule and wording amended to be consistent in the Rulebook. BR-3.1.2 10/2010 Reference to legal entity deleted. BR-3.1.3 10/2010 Wording changed to be consistent in the Rulebook. BR-A.2.3 and 2.1.2 10/2010 Due date changed to 2 months to be consistent in the Rulebook. BR-3.2 10/2010 New Section added to be consistent in the Rulebook. BR-5.1 10/2010 Reference corrected. BR 10/2010 Minor changes to formatting and spelling to be consistent in the Rulebook. BR-A.1.4 01/2011 Clarified legal basis. BR-A.2.9A 01/2011 Added reference to IIS Reporting Requirements BR-4A 01/2011 Added new Chapter on other reporting requirements and refer to IIS reporting requirements. BR-A.2.3 04/2011 Corrected order of wording. BR-1.2.3 04/2011 Clarified due date. BR-4.3.2 04/2011 Reference changed to licensed exchange. BR-4.3.3 04/2011 Clarified reference to calendar days. BR-5.1.1 and BR-5.12 04/2011 Clarified to whom Rules apply. BR-5.1.7 04/2011 Clarified due date for notification. BR-5.1.10 04/2011 Clarified reference to calendar days. BR-A.2.6, BR-3.2 and BR-4.1 07/2011 Clarified that all statistical returns must be filed monthly. BR-1.1.4(i) 07/2011 Deleted incorrect cross reference. BR-3.1A.2 07/2011 Corrected reference for quarterly reporting by branches of foreign banks. BR-5.1.16 07/2011 Regulation under consultation. BR-5.1.17 07/2011 Added additional notification requirements. BR-A.2.4 and BR-A.2.7A 10/2011 Key requirement amended to reflect current reporting requirement. BR-A.2.11 10/2011 Clarified language to be in line with references in BR-5.3 and BC-4.7. BR-1.1.3 and BR-2.2 10/2011 Clarification of existing requirement for the Agreed Upon Procedures Report and setting a deadline for the submission of the report. BR-3.1.8 and BR-3.1A.6 10/2011 New requirements for reporting of complaints in accordance with BC-10.7.1. BR-4.1.5 and BR-5.1.15 10/2011 Updated to reflect change in reporting requirement from ad-hoc to monthly. BR-6 10/2011 Updated Chapter to be consistent with other Volumes of the Rulebook. BR-6.1 and BR-6.4 01/2012 Added Sections to be consistent with other Volumes of the CBB Rulebook. BR-6.5.21 01/2012 Corrected cross reference. BR-A.2.9A 04/2012 Corrected cross reference. BR-1.1.4 and BR-1.1.6 04/2012 Minor amendments. BR-1.2.3(d) and BR-1.2.3A 04/2012 Amended due date of head office's annual audited financial statements. BR-2.1.2 04/2012 Clarified what interim semi-annual statements are to be submitted by retail branches of foreign banks. BR-A.2.10 and BR-5.2.5 04/2012 Requirement for locally incorporated banks to consult with CBB prior to entering into any term borrowing arrangements. BR-5.1.4 and BR-5.1.5 04/2012 Paragraph BR-5.1.4 deleted and BR-5.1.5 amended as any changes to approved persons must receive CBB prior approval as per Paragraph LR-1A.1.23. BR-5.3.4 04/2012 Added cross reference to Section BC-6.1 on installation or removal of off-site ATM in Bahrain. BR-3.1.5 07/2012 Clarified the exemption status for requirements under Paragraph BR-3.1.4 BR-5.1.11 07/2012 Added requirement to provide details of what authorised signatories are authorised to sign for. BR-4A.1.1 01/2013 Clarified deadline to update IIS. BR-1.1.4(g) and BR-1.1.4A 04/2013 Clarified due date for report on board meetings to be in line with Paragraph HC-1.3.8. BR-1.1.4(k) 04/2013 Added Subparagraph to include report on controllers as required under Paragraph GR-5.1.9. BR-5.1.3 04/2013 Amended to clarify that CBB prior approval is required and also added requests for capital increases. BR-4A.2 07/2013 Added new Section on reporting requirements for internet security measures. BR-1.1.4(l), BR-1.2.3(f), BR-1.3, BR-4A.3 and BR-4A.4 01/2014 New reporting requirements added related to sound remuneration practices for banks. BR-5.1.7 01/2014 Added notification for any changes in financial instrument traders. BR-1.4 04/2014 Added requirement for all retail banks to submit the eligible accounts report for the deposits/unrestricted investment accounts protection scheme. BR-2.2 04/2014 Added requirement for semi-annual report on private placements issued or promoted by banks. BR-5.1 04/2014 Amended notification requirements. BR-5.2 04/2014 Clarified Rules applicable to Bahraini Islamic bank licensees pertaining to SPVs. BR-5.3.5 04/2014 Added notification requirement where retail banks receive funds from an NGO where no valid fund collection license was submitted. BR-1.3.1 07/2014 Changed due date for Details of remuneration paid report. BR-3.1.6A 07/2014 Added quarterly reporting requirements regarding interim financial statements as per 22 January 2014 ad hoc communication letter. BR-3.1.7A to BR-3.1.7C 07/2014 New quarterly reporting requirements added for details of large exposures and overseas subsidiaries and branches. BR-4A.3.1 07/2014 Noted exception to requirement to submit report on the bank's compliance with the remuneration rules. BR-1.1.4(e) 10/2014 Corrected terminology for reporting of restructured facilities. BR-1.2.3 10/2014 Reference added to new reporting form Appendix BR-21 for non-performing and restructured facilities. BR-2.3 10/2014 New Section added on semi-annual disclosure requirements for all branches of foreign banks. BR-3.1.6A 10/2014 Reference added to new form Appendix BR-20 for quarterly financial review. BR-3.1.7B 10/2014 Corrected the reporting requirements dealing with overseas banking subsidiaries. BR-2.1.3 01/2015 Corrected wording of Rule. BR-4A.2.1 01/2015 Clarified that Rule is applicable to all banks to be consistent with Section OM-6.2. BR-5.2.2 01/2015 Corrected cross reference and terminology. BR-5.2.9 to BR-5.2.18 01/2015 Rules and guidance transferred from Module PCD. BR-2.2.4 04/2015 Amended deadline for submission of report on private placements to within three months of the reporting period. BR-3.1.5A 04/2015 Existing exemptions in respect of PIRI review will cease as at 31st December 2014 for all Bahraini Islamic bank licensees. BR-4A.3 07/2015 Amended Section to allow for CBB-approved consultancy firm to prepare report on the bank's compliance with the remuneration Rules outlined in Chapter HC-5. BR-A.2.2, BR-A.2.3, BR-1.1.2 and BR-1.2.2 04/2016 Clarified due date for financial statements. BR-1.1 04/2016 Added Rule regarding submission of draft year-end financial statements and attendance at CBB meeting with supervisory point of contact and external auditor. BR-1.1.4A and BR-1.1.4B 07/2016 Added guidance for subsidiaries of banks and renumbered Paragraph. BR-1.1.6 07/2016 Requirements aligned with PD-1.2.6. BR-3.1.4 10/2016 Deleted repetition to BR-3.1.7 BR-1.1.4 04/2017 Added sub-paragraph (m) on CPD requirements. BR-1.2.3 04/2017 Added sub-paragraph (g) on CPD requirements. BR-4A.5 04/2017 Added new Section on On-site Inspection Reporting BR-1.1.4(j) 07/2017 Deleted sub paragraph (j) & relocated to BR-1.1.4C. BR-1.1.4B 07/2017 Amended wording of paragraph. BR-1.1.4C 07/2017 Added new paragraph to amend submission deadline of agreed upon procedures report. BR-4A.4.1 07/2017 Amended submission deadline. BR-3.1.7AA 10/2017 Added a new paragraph on submission of Largest Country Exposures. BR-1.2.3 07/2018 Amended Paragraph to clarify submission deadline. BR-4A.2.2 07/2018 Amended cross reference. BR-5.1.7 07/2018 Deleted Paragraph. BR-1.1.4 10/2018 Added a new sub-paragraph (n) on the Financial Advice Programme/course. BR-1.2.3 10/2018 Added a new sub-paragraph (h) on the Financial Advice Programme/course. BR-1.1.4 01/2019 Amended Paragraph to include IESCA communication. BR-1.1.4(a) 04/2019 Added IESCA's assurance report to the requirements. BR-1.1.4(e) 04/2019 Deleted sub-paragraph. BR-1.2.3(b) 04/2019 Deleted sub-paragraph. BR-2.3 04/2019 Deleted Section. BR-3.1.5B 04/2019 Added a new Paragraph on Information required for Annual and Interim Financial Review. BR-3.1A.5A 04/2019 Added a new Paragraph on Information required for Annual and Interim Financial Review. BR 04/2019 Changed all Locally incorporated to Bahraini Islamic Bank Licensees. BR-4.3.5 07/2019 Added a new Paragraph on new form Appendix BR-23 for Liquidity Coverage Ratio (LCR) Reporting BR-A.2.12 10/2019 Added a new Paragraph on licensees communications. BR-5.2.11(e) 01/2020 Amended sub-paragraph on SPVs. BR-5.2.12 01/2020 Amended Paragraph on SPVs. BR-5.2.12 04/2020 Amended Paragraph on SPV Reporting. BR-5.2.12 07/2020 Added a new sub-paragraph (d) on credit facilities granted to SPVs. BR-A.2.9 10/2020 Added a new sub-paragraph (k) on ad-hoc reporting and notification. BR-A.2.9A 10/2020 Amended Paragraph number to BR-A.2.8A. BR-2.1.2A 07/2021 Added a new Paragraph on submission of documents to the CBB prior publishing. BR-3.1.5B 07/2021 Deleted Paragraph. BR-3.1.6A 07/2021 Amended Paragraph on submission of reporting forms. BR-3.1A.5A 07/2021 Amended Paragraph on submission of reporting forms for retail branches of foreign banks BR-3.1A.5B 07/2021 New Paragraph on submission of reporting form for wholesale branches of foreign banks. BR-4A.6 07/2021 Added a new Section on Reporting of API Performance. BR-5.2.8 07/2021 Amended Paragraph on CBB’s prior approval for any proposed capital increase in a subsidiary and for any major changes. BR-1.1.4 01/2022 Deleted Sub-paragraph (n). BR-1.1.4B 01/2022 Amended Paragraph on the submission of the Board and Committee annual meetings report. BR-1.2.3 01/2022 Deleted Sub-paragraph (h). BR-3.1.3 01/2022 Amended Paragraph on the submission of the reporting forms. BR-3.1A.3 01/2022 Amended Paragraph on the submission of the quarterly reports. BR-3.1A.5A 01/2022 Amended Paragraph on the submission of the Information Required for Annual and Interim Financial Review and the PIR forms for retail banks. BR-3.1A.5B 01/2022 Amended Paragraph on the submission of the Information Required for Annual and Interim Financial Review and the PIR forms for wholesale banks. BR-4.1.3 01/2022 Amended Paragraph removing the submission of a printed copy of the Appendix BR-2. BR-4A.5.2 01/2022 Amended Paragraph on the submission of the written assessment of the observations/issues raised in the Inspection draft report. BR-5.1.11 01/2022 Deleted Paragraph. BR-3.1.8 04/2022 Amended Paragraph on reporting of complaints. BR-3.1A.6 04/2022 Amended Paragraph on submission of complaint reports. BR-4A.2 04/2022 Deleted Section. BR-5.1.10 04/2022 Deleted Paragraph. BR-5.3.4 04/2022 Amended Paragraph on ATMs installation. BR-A.2.9(g) 10/2022 Deleted sub-paragraph. BR-5.1.17 01/2023 Amended Paragraph removing reference to OM. BR-1.1.4B 04/2023 Deleted Paragraph. BR-4A.7 04/2023 Added a new Section on Prudential Meeting requirements. BR-A.2.9(d) 10/2023 Deleted sub-paragraph. BR-4A-3.1 01/2024 Amended reference to HC Module. BR-4A.6.1 05/2024 Amended Paragraph on open banking reporting requirements. BR-4A.6.2 05/2024 Added a new Paragraph on retail banks acting as AISPs and PISPs. Effective Date
BR-A.3.4
The contents in this Module are effective from the date shown at the foot of the page or from the date of changes shown in BR-A.3.3.
October 07
