Back Custom print Link Text Only Rich Text Print

  • FP-A.1 Introduction and Scope

    • Purpose

      • FP-A.1.1

        This Module presents the CBB requirements that should be met by the licensees with regards to certain persons identified in this Module with respect to fitness and propriety as specified in this Module. Directors on the boards of licensees and certain senior management functions require the CBB’s approval prior to their appointment.

        Added: March 2025

    • Legal Basis

      • FP-A.1.2

        This Module contains the CBB’s Directive (as amended from time to time) relating to fit and proper requirements and is issued under the powers available to the CBB under Articles 38 and 65(b) of the Central Bank of Bahrain and Financial Institutions Law 2006 (‘CBB Law’).

        Added: March 2025

    • Scope

      • FP-A.1.3

        This Module applies to all licensees. It contains the CBB’s principles regarding ensuring suitability of directors and individuals heading senior management functions. It also sets out the fit and proper criteria and the CBB’s requirements relating to appointments, identification of senior managers, ongoing fit and proper assessments, training, notifications, reporting and record keeping. It also identifies certain positions, the holders of which, would require prior approval of the CBB in writing before holding such positions.

        Added: March 2025

      • FP-A.1.4

        For licensees that are branches of overseas institutions, references to the board of directors or board should be interpreted as their head offices or regional offices as appropriate.

        Added: March 2025