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  • BR-3.1 BR-3.1 Bahraini Islamic Bank Licensees

    • BR-3.1.1

      The content of this Section is applicable to all Bahraini Islamic Bank Licensees licensed by the CBB in the Kingdom of Bahrain.

      Amended: April 2019
      Amended: October 2010
      October 07

    • Prudential Information Returns for Islamic Banks (PIRI)

      • BR-3.1.2

        All banks, referred to under Paragraph BR-3.1.1, must complete PIRI forms (see Appendix BR-5), on a quarterly basis. This form is intended to be a financial report of the bank. Banks should therefore include on it all assets and liabilities of their head office and their branches in Bahrain and abroad and subsidiaries where applicable. Separate figures in respect of the head office or 'Bahrain operations' are not required.

        October 2010
        January 2009
        October 07

      • BR-3.1.3

        The forms referred to under Paragraph BR-3.1.2 must be submitted to the CBB on a quarterly basis within 30 calendar days of the end of the reporting date.

        Amended: January 2022
        Amended: October 2010
        Amended: January 2009
        Added: October 07

      • BR-3.1.4

        The CBB requires all banks to request their external auditor to conduct a review of the prudential returns on a quarterly basis (see also Sections CA-1.5 and AU-3.6 for fuller details). The results of such review (in the form of an Agreed Upon Procedures report as shown in Appendix BR-9) must be submitted to the CBB no later than 2 months from the end of the subject quarter.

        Amended: October 2016
        October 2010
        January 2009
        April 2008
        October 07

      • BR-3.1.5

        Banks which demonstrate to the satisfaction of the CBB that they have fulfilled all of the CBB's requirements with regard to Prudential Returns for at least two consecutive quarters may apply (in writing) to the Central Bank for an exemption from the review procedure set out in Paragraph BR-3.1.4 above. Such exemption may be withdrawn by the CBB at any time, should errors be detected.

        Amended: July 2012
        Amended: October 2011
        April 2008
        October 07

      • BR-3.1.5A

        For Bahraini Islamic bank licensees, all existing exemptions in respect of PIRI review as at 31st December 2014 will cease.

        Added: April 2015

    • Information required for Annual and Interim Financial Review

      • BR-3.1.5B

        [This Paragraph was deleted in July 2021].

        Deleted: July 2021
        Added: April 2019

    • Financial Information

      • BR-3.1.6

        All banks, referred to under Paragraph BR-3.1.1, should submit their reviewed (unaudited) quarterly financial statements to the CBB within 2 months from the statement date.

        October 2010
        October 07

      • BR-3.1.6A

        All Bahraini Islamic bank licensees must submit to the CBB at least 5 working days prior to the intended publication date and before their board of directors' meeting to discuss the interim financial statements, the following documents:

        (a) Draft interim financial statements; and
        (b) Completed Form: Information Required for Annual and Interim Financial Review (Appendix BR-21) prepared in accordance with Appendix BR-20.
        Amended: July 2021
        Amended: October 2014
        Added: July 2014

    • Compliance

      • BR-3.1.7

        The statements mentioned under Paragraph BR-3.1.6 should be in compliance with the requirements set out under Section PD-3.1.

        October 07

    • Largest Country Exposures

      • BR-3.1.7AA

        All Bahraini Islamic bank licensees must submit to the CBB details of their largest country exposures on a consolidated basis through Electronic Submission of Returns and Analysis of Data (ESRAD). This report must be submitted to the CBB within 20 calendar days of the end of the relevant quarter.

        Added: October 2017

    • Large Exposures

      • BR-3.1.7A

        All Bahraini Islamic bank licensees must submit to the CBB details of their large exposures in accordance with Appendix BR-19. This report must be submitted to the CBB within 20 calendar days of the end of the reporting date.

        Added: July 2014

    • Overseas Banking Subsidiaries and Branches

      • BR-3.1.7B

        All Bahraini Islamic bank licensees must submit to the CBB details of their overseas banking subsidiaries and branches in accordance with Appendix BR-7. This report must be submitted to the CBB within one month of the end of the relevant quarter.

        Amended: October 2014
        Added: July 2014

    • Non-Banking Subsidiaries

      • BR-3.1.7C

        All Bahraini Islamic bank licensees must submit to the CBB reviewed statement of financial position and income statement of their non-banking subsidiaries. If reviewed statements are unavailable, management accounts will be accepted by the CBB. These statements are to be submitted within one month of the end of the relevant quarter.

        Added: July 2014

    • Reporting of Complaints

      • BR-3.1.8

        In accordance with Paragraph BC-10.7.1, all banks must submit to the CBB Consumer Protection Unit, 20 days after the end of the quarter, a report on complaints.

        Amended: April 2022
        Added: October 2011