• 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 07

    • BC-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 2007

    • BC-A.2.3

      For overseas Islamic bank licensees, these requirements only apply to the business and customers of the Bahrain branch.

      Added: July 2015

    • BC-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 the Islamic bank licensee that may arise through adverse reputational or other consequences.

      Added: July 2015

    • BC-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