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  • BC-3.1 BC-3.1 General Requirements

    • BC-3.1.1

      This Chapter applies only to those insurance firms licensed to conduct insurance business under takaful principles.

      Amended: January 2007

    • BC-3.1.2

      The CBB acknowledges that the nature of takaful and the operation of a takaful business are not entirely equivalent to and in some respects different from a conventional insurance business. The specific requirements set out in this Chapter aim not only to allow takaful firms to operate in Bahrain within the CBB's insurance regulatory regime on a basis consistent with conventional insurers but also to recognise some of the differences in takaful that are relevant to the way in which takaful business is carried on.

      Amended: January 2007
      Amended: October 2007

    • BC-3.1.3

      The specific requirements in this Chapter are additional to Chapters BC-A to BC-2. The requirements in Chapters BC-A to BC-2 apply to takaful firms unless those requirements are specifically modified or waived by this Chapter.

      Amended: January 2007