(a) The subscription money (client money) be received into a client money account with a retail bank in Bahrain and make clear in the title of the account that the funds in the account belong to one or more clients of the licensee and not to the licensee:
(i) Held in a segregated client money account;
(ii) Held in a fiduciary capacity and must not be commingled with its own funds;
(iii) Used only for the purposes for which the licensee received it from its clients;
(iv) Not used for licensee’s own use at any point in time or given as collateral for any purpose to a third party or be subject to any restrictions;
(v) Reported separately as on balance sheet item in the licensee’s financial statements specifying also the nature and purpose for which such funds are held by the bank on behalf of its customers; and
