Back Custom print Link Text Only Rich Text Print

  • Customer Records

    • GR-1.2.1

      Insurance licensees must keep records with respect to all customer relationships that remain active or potentially active. These records must be in hard copy or in original form, and retained for at least ten years after a customer relationship has terminated.

      Amended: October 2007

    • GR-1.2.2

      Customer records include original account opening and due diligence documentation including identification information, sufficient to confirm compliance with all statutory and regulatory Know Your Customer requirements (see Module FC).

    • GR-1.2.3

      The requirement in Paragraph GR-1.2.1 applies to all customer facilities booked in Bahrain by the licensee or where a customer relationship is administered from Bahrain. Licensees may not use record-keeping systems outside Bahrain for customer business booked in Bahrain, except for back-up purposes only.

    • GR-1.2.4

      For captive insurance, where the customers are limited to related companies, the due diligence requirement does not apply.

      Amended: January 2007