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  • AA-A.1 AA-A.1 Purpose

    • Executive Summary

      • AA-A.1.1

        This Module presents requirements that have to be met by insurance licensees with respect to the appointment of external auditors and actuaries (the requirement for actuaries is only applicable to insurance firms). This Module also sets out certain obligations that external auditors and actuaries have to comply with, by virtue of their appointment by insurance licensees.

        Amended: January 2007

      • AA-A.1.2

        This Module is issued under the powers given to the Central Bank of Bahrain ('the CBB') under Decree No. (64) of 2006 with respect to promulgating the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). It supplements Article 61 of the CBB Law, which requires licensees to appoint an external auditor acceptable to the CBB and Articles 72 to 74 dealing with actuaries.

        Amended: January 2007
        Amended: October 2007

    • Legal Basis

      • AA-A.1.3

        This Module contains the CBB's Directive (as amended from time to time) relating to auditors and actuaries and is issued under the powers available to the CBB under Article 38 of the CBB Law. The Directive in this Module is applicable to insurance licensees.

        Amended: January 2011
        Amended: October 2007
        Adopted: January 2007

      • AA-A.1.4

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

        Adopted: January 2007