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  • HC-B.2 HC-B.2 Subsidiaries and Foreign Branches of Bahraini Islamic Bank Licensees

    • HC-B.2.1

      Bahraini conventional bank licensees must ensure that, as a minimum, the same or equivalent provisions of this Module apply to their subsidiaries and overseas branches. In instances where local jurisdictional requirements are more stringent than those applicable in this Module, the local requirements are to be applied.

      Added: April 2023

    • HC-B.2.2

      Where a conventional bank licensee is unable to satisfy the CBB that its subsidiaries and overseas branches are subject to the same or equivalent arrangements, the CBB will assess the potential impact of risks to the licensee arising from inadequate high-level controls. In such instances, the CBB may impose certain restrictions on the licensee. Where weaknesses in controls are assessed by the CBB to pose a major threat to the financial soundness of the licensee and/or the financial stability in the Kingdom, then its license may be called into question.

      Added: April 2023