PD-A.1 PD-A.1 Purpose
Executive Summary
PD-A.1.1
The purpose of this Module is to set out the minimum requirements applied by the Central Bank of Bahrain (‘CBB’) to
insurance firms , with respect to corporate and financial transparency through meaningful public disclosures. Such disclosures help protectcustomers ofinsurance firms and facilitate market discipline.Amended: January 2007PD-A.1.2
The CBB's disclosure requirements vary according to the Category of
insurance licensee . Certain categories are exempt from these requirements, because of the limited nature of their business. The scope of application of these requirements is given in Section PD-B.1.Amended: January 2007PD-A.1.3
The CBB encourages
insurance firms to go beyond the minimum requirements specified in this Module. Further guidance on international best practice in this regard is provided in Chapter PD-3.Amended: January 2007PD-A.1.4
In setting out certain detailed disclosure requirements, this Module supports various other parts of the Rulebook, namely:
(a) Principles of Business (Module PB);(b) Authorisation (Module AU);(c) Auditors and Actuaries (Module AA);(d) CBB Reporting (Module BR);(e) Capital Adequacy (Module CA); and(f) Business Conduct (Module BC).Amended: January 2007Legal Basis
PD-A.1.5
This Module contains the CBB's Directive (as amended from time to time) relating to public disclosure 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 .Amended: January 2011
Amended: July 2009
Amended: October 2007
Added: January 2007PD-A.1.6
For an explanation of the CBB’s rule-making powers and different regulatory instruments, see Section UG-1.1.
Added: January 2007
