Back Custom print Link Text Only Rich Text Print

  • LR-B.1 LR-B.1 Scope and Prohibitions

    • LR-B.1.1

      The licensing requirements in Chapter LR-1 have general applicability, in that they prevent any person from providing (or seeking to provide) regulated Islamic banking services within or from the Kingdom of Bahrain, unless they have been licensed as a Islamic bank licensee by the CBB or marketing any financial services unless specifically allowed to do so by the CBB (see Rule LR-1.1.1).

      Amended: January 2013
      Amended: July 2012
      October 2007

    • LR-B.1.2

      In addition, no one may use the term ‘bank’ in their trading or corporate name, or otherwise hold themselves out to be a bank in Bahrain, unless they hold the appropriate license from the CBB (see Rule LR-1.1.2).

      October 2007

    • LR-B.1.3

      The remaining requirements in Chapters LR-1 to LR-4 (besides those mentioned in Section LR-B.1 above) apply to all those licensed by CBB as an Islamic bank licensee, or which are in the process of seeking such a license. They apply regardless of whether the person concerned is incorporated in the Kingdom of Bahrain, or in an overseas jurisdiction, unless otherwise specified.

      Amended: July 2012
      October 2007

    • LR-B.1.4

      These remaining requirements prescribe the types of license offered; their associated operating conditions; the licensing conditions that have to be satisfied in order to secure and retain a license; and the processes to be followed when applying or varying a license, or when a license is withdrawn.

      October 2007

    • LR-B.1.5

      The Rules referred to above are supported by statutory restrictions contained in the CBB Law 2006 (cf. Articles 39 to 41).

      October 2007