New Arrivals
FC-1.1.10G
In the case of newly arrived persons in Bahrain who are taking up employment or residence, an account may be opened after undertaking initial customer due diligence and obtaining and verifying the identity information of the customer. However, no transfers or disbursement of funds must take place from such bank account until all the CDD requirements have been fully met.
Added: Jan 2024FC-1.1.10H
In complying with the requirements of Paragraph FC-1.1.10G, examples of serious reasons for denying the request for opening an account may include failure to provide a valid passport. It may also include instances where a potential customer’s conduct or activity appears suspicious, or the customer’s name appears in one of the local, regional or international sanction lists.
Added: Jan 2024
