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  • HC-A.1 HC-A.1 Purpose[versions up to January 2011]

    • Executive Summary[versions up to January 2011]

      • HC-A.1.1 [versions up to January 2011]

        This Module presents requirements that have to be met by insurance licensees with respect to:

        a) The role and composition of their Boards and Board committees; and
        b) Related high-level controls and policies.
        Amended: January 2007

      • HC-A.1.2 [versions up to January 2011]

        This Module supplements various provisions relating to corporate governance contained in Legislative Decree No. 21 of 2001, with respect to promulgating the Commercial Companies Law ('Commercial Companies Law 2001'). In case of conflict, the Commercial Companies Law shall prevail. Compliance with this Module does not guarantee compliance with the Commercial Companies Law.

        Amended: January 2007

    • Legal Basis[versions up to January 2011]

      • HC-A.1.3 [versions up to January 2011]

        This Module contains the CBB's Directive relating to high-level controls and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). The Directive in this Module is applicable to insurance licensees (including their approved persons).

        Added: January 2007

      • HC-A.1.4 [versions up to January 2011]

        For an explanation of the CBB’s rule-making powers and different regulatory instruments, see Section UG-1.1.

        Added: January 2007