HC-B HC-B General guidance and best practice[versions up to October 2010]
HC-B.1 HC-B.1 Guidance provided by other international bodies[versions up to October 2010]
Basel Committee: Enhancing Corporate Governance in Banking Organisations and High-level Controls for Banks[versions up to October 2010]
HC-B.1.1 [versions up to October 2010]
These papers (see www.bis.org/publ/bcbs56.pdf) issued in September 1998 and September 1999 provide guidance on corporate governance and high-level controls in banks. These papers form part of an on-going effort by the Committee to strengthen procedures for risk management and disclosure in banks.
October 07HC-B.1.2 [versions up to October 2010]
The papers draw on supervisory experience with corporate governance problems at banking organisations and suggest the types of practices that could help to avoid such problems. They identify a number of practices as critical elements of any financial institution's corporate governance process.
October 07HC-B.1.3 [versions up to October 2010]
The CBB draws banks' attention to the Basel papers as benchmarks of best practice for corporate governance standards and high-level controls to be followed by banks operating in the Kingdom of Bahrain.
October 07HC-B.2 HC-B.2 Enforceability[versions up to October 2010]
HC-B.2.1 [versions up to October 2010]
The requirements of Chapter 1, Sections HC-1.1–HC-1.4 are binding requirements, which banks and their Boards should follow on an 'apply or explain' basis. If a Board or a bank elects not to follow these requirements, they must explain why to the Central Bank and document the reasons for not applying the concerned requirements in the Minutes of the Board. The remaining Chapters are binding requirements except where shown as guidance.
October 07
