Compliance
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
PD-1.3.7
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
The Annual Report should include a declaration by the external auditors that no violations have taken place of:
(a) The Bahrain Commercial Companies Law of 2001 (as amended);(b) The CBB Law that might have had a material effect on the business of the bank or on its financial position; and(c) The licensing and authorisation requirements and other rules and regulations issued by the Central Bank.In so far as the violations have any material impact on the financial statements of the bank.
October 07PD-1.3.8
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
The Annual Report must disclose the amount of any penalties paid to the Central Bank during the period of the report together with a factual description of the reason(s) given by the Central Bank for the penalty (see Section EN-1.3). Failure to comply with this requirement will mean that the concerned bank will be required to make the disclosure in the subsequent quarterly financial statement and in the subsequent annual financial statement. A financial penalty for non-disclosure will also be levied upon the concerned bank.
October 07
