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  • General Prohibition

    • AU-1.1.1

      No person may:

      (a) Undertake (or hold themselves out to undertake) regulated insurance services, by way of business, within or from the Kingdom of Bahrain unless duly licensed by the CBB;
      (b) Hold themselves out to be licensed by the CBB unless they have as a matter of fact been so licensed; or
      (c) Market any financial services in the Kingdom of Bahrain unless:
      (i) Allowed to do by the terms of a license issued by the CBB;
      (ii) The activities come within the terms of an exemption granted by the CBB by way of a Directive; or
      (iii) Has obtained the express written permission of the CBB to offer financial services.
      Amended: January 2013
      Amended: July 2007

    • AU-1.1.1A

      For the purposes of Rule AU-1.1.1(a), please refer to Section AU-1.4 for the definition of ‘regulated insurance services’ and ‘by way of business’. Such activities will be deemed to be undertaken within or from the Kingdom of Bahrain if, for example, the person concerned:

      (a) Is incorporated in the Kingdom of Bahrain;
      (b) Uses an address situated in the Kingdom of Bahrain for its correspondence; or
      (c) Directly solicits clients, who are resident within the Kingdom of Bahrain.
      Added: July 2007

    • AU-1.1.2

      For the purposes of AU-1.1.1(b), and in accordance with Article 41(b) of the CBB Law persons would be considered in breach of this requirement if they were to trade as, or incorporate a company in Bahrain with a name containing the words '(re)insurance', '(re)assurance' or '(re)takaful', or the words 'broker', 'consultant', or 'manager' in combination with '(re)insurance', '(re)assurance' or '(re)takaful' (or the equivalents in any language), without holding the appropriate CBB license or the prior approval of the CBB.

      Amended: July 2007

    • AU-1.1.2A

      In accordance with Resolution No.(16) for the year 2012 and for the purpose of Subparagraph AU-1.1.1(c), the word 'market' refers to any promotion, offering, announcement, advertising, broadcast or any other means of communication made for the purpose of inducing recipients to purchase or otherwise acquire financial services in return for monetary payment or some other form of valuable consideration.

      Added: January 2013

    • AU-1.1.2B

      Persons in breach of Subparagraph AU-1.1.1(c) are considered in breach of Resolution No.(16) for the year 2012 and are subject to penalties under Articles 129 and 161 of the CBB Law (see also Section EN-10.3A).

      Added: January 2013