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 .Added: July 2023HC-2.1.2
The Board must have a sufficient number of independent directors. In case of a
Bahraini investment firm licensees with a controller, at least one-third of the Board must be independent.Added: July 2023HC-2.1.3
If the
Bahraini investment firm 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: July 2023HC-2.1.4
The CBB may call upon each independent director at its discretion to have a general discussion on the affairs of the
Bahraini investment firm licensee .Added: July 2023
