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  • Books and Records

    • C4-1.1.25

      Category 4 investment firms must maintain comprehensive books of accounts and other records (whether in electronic or hard copy form), which must be available for inspection within the Kingdom of Bahrain by the CBB, or persons appointed by the CBB, at any time. Licensees must maintain books and records sufficient to produce financial statements and show a complete record of the business undertaken and must retain such record for at least ten years. For overseas investment firms these requirements only apply to the business booked in their branch in Bahrain.

      Added: January 2022

    • C4-1.1.26

      Category 4 investment firms must keep completed transaction records for as long as they are relevant for the purposes for which they were made with a minimum period in all cases of five years from the date when the transaction was terminated. Records of terminated transactions must be kept whether in hard copy or electronic format as per the Legislative Decree No. (54) of 2018 with respect to Electronic Transactions “The Electronic Communications and Transactions Law” and its amendments.

      Added: January 2022

    • C4-1.1.27

      Category 4 investment firms must maintain the following records in original, hard copy or digital form at their premises in Bahrain:

      (a) Internal policies, procedures and operating manuals;
      (b) Corporate records, including minutes of shareholders', Directors' and management meetings;
      (c) Correspondence with the CBB and records relevant to monitoring compliance with CBB requirements;
      (d) Correspondence with their investors, and related parties;
      (e) Reports prepared by the category 4 investment firm’s internal and external auditors and compliance officer; and
      (f) Employee training manuals and records.
      Added: January 2022

    • C4-1.1.28

      Unless otherwise agreed to by the CBB in writing, records must be kept in either English or Arabic. Any records kept in languages other than English or Arabic must be accompanied by a certified English or Arabic translation. Records must be kept current. The records must be sufficient to allow an audit of the licensee's business or an on-site examination of the licensee by the CBB.

      Added: January 2022