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  • FC-1.5A FC-1.5A Enhanced Due Diligence: Charities, Clubs and Other Societies

    • FC-1.5A.1

      Financial services must not be provided to charitable funds and religious, sporting, social, cooperative and professional and other societies, until an original certificate authenticated by the relevant Ministry confirming the identities of those purporting to act on their behalf (and authorising them to obtain the said service) has been obtained. Charities should be subject to enhanced monitoring by insurance licensees.

      Added: January 2022

    • FC-1.5A.2

      For the purpose of Paragraph FC-1.5A.1, for clubs and societies registered with the Ministry of Youth and Sport Affairs, insurance licensees must contact the Ministry to clarify whether a policy may be issued in accordance with the rules of the Ministry. In addition, in the case of sport associations registered with the Bahrain Olympic Committee (BOC), insurance licensees must contact BOC to clarify whether the policy may be issued in accordance with the rules of BOC.

      Added: January 2022