HC-2.1 HC-2.1 Board Composition
HC-2.1.1
The Board must comprise of individuals with a balance of skills, diversity and expertise, who individually and collectively possess the necessary qualifications commensurate with the size, complexity and risk profile of the
licensee . The Board must have a sufficient number of independent directors.Added: April 2023HC-2.1.2
In case of a
Bahraini conventional bank licensee with a controller, at least one-third of the Board must be independent.Added: April 2023HC-2.1.3
If the
Bahraini conventional bank licensee has a controller or a group of controllers acting in concert, such person(s) must recognise their specific responsibility to the minority shareholders as Board members have responsibilities to thelicensee’s overall interests, regardless of who appoints them.Added: April 2023HC-2.1.4
At least half of a
Bahraini conventional bank licensee ’s Board should be non-executive directors and at least three of those persons should be independent directors.Added: April 2023HC-2.1.5
The CBB may call upon each independent director at its discretion to have a general discussion on the affairs of the
Bahraini conventional bank licensee .Added: April 2023
