BC-A.2 BC-A.2 Scope of Application and Key Requirements
BC-A.2.1
This Module applies to all
Islamic bank licensees unless indicated otherwise.Amended: July 2015
October 07BC-A.2.2
Bahraini Islamic bank licensees must ensure that their branches and subsidiaries operating in foreign jurisdictions comply, at a minimum, with local conduct of business standards and regulatory requirements (where applicable).Amended: July 2015
Amended: October 2011
Amended: April 2008
October 2007BC-A.2.3
For
overseas Islamic bank licensees , these requirements only apply to the business andcustomers of the Bahrain branch.Added: July 2015BC-A.2.4
The CBB encourages
Bahraini Islamic bank licensees to apply—with respect to their overseas branches and subsidiaries—conduct of business standards at least equivalent to those set out in this Module. Where this is not the case, the CBB will consider any potential risk to theIslamic bank licensee that may arise through adverse reputational or other consequences.Added: July 2015BC-A.2.5
This Module covers the following activities by
Islamic bank licensees :(a) General Principles (Chapter BC-B);(b) Promotion of financial products and services (Chapter BC-1);(c) Code of Conduct for bank dealers and foreign exchange dealers (Chapter BC-2);(d) Client confidentiality (Chapter BC-3);(e) Customer account services and charges (Chapter BC-4);(f) Dishonoured cheques (Chapter BC-5);(g) ATMs and charges for their use (Chapter BC-6);(h) Mudaraba contracts (Chapter BC-7);(i) Margin trading system (Chapter BC-8);(j) Regulated banking services (Chapter BC-9);(k) Customer complaints procedures (Chapter BC-10); and(l) Measures and Procedures for Services Provided to Disabled Customers by Bahraini Retail Banks (Chapter BC-11).Amended: April 2016
Added: July 2015