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  • Financial Position

    • PD-1.1.12

      The Annual Report must contain a copy of the firm's annual, audited financial statements in accordance with the requirements contained in the CBB Law, the Bahrain Commercial Companies Law 2001 (as amended) and the Bahrain Stock Exchange regulations (where applicable). The financial statements must contain the auditor's opinion which must be made in accordance with the International Standards on Auditing, established by the International Federation of Accountants. The Annual Report must also contain a solvency statement and the auditor's report.

      Amended: July 2009
      Amended: January 2007

    • PD-1.1.12A

      For Takaful firms, the published financial statements must provide a detailed breakdown of the statement of financial position and statement of comprehensive income for the shareholder fund and for any participant fund(s) of the Takaful firm.

      Added: April 2014

    • PD-1.1.13

      The solvency statement specified in Paragraph PD-1.1.12 must include a breakdown of the firm's CBB capital available (as specified in Paragraph CA-1.2.21) and a summary of the firm's CBB solvency margin requirements (as prescribed in Chapter CA-2).

      Amended: January 2007
      Amended: October 2007

    • PD-1.1.13A

      In instances where a Takaful firm has opted to write-off a Qard Hassan granted to meet solvency requirements under the CBB Rules at that time, the amount of the Qard Hassan must be disclosed as an off-balance sheet item in accordance with Subparagraph CA-8.4.16.

      Added: April 2014

    • PD-1.1.14

      Firms must disclose in their published accounts all information which policyholders and shareholders would reasonably expect to enable them to form a view of the firm's ability to meet its obligations.

      Amended: January 2007

    • PD-1.1.15

      Firms are encouraged to include within the annual reports key ratios that would assist readers in understanding the firm's financial performance, performance on its insurance account and in making comparisons with previous financial periods on a like-for-like basis. Possible ratios include those contained in the Insurance Firm Return (cf. Module BR (CBB Reporting)).

      Amended: January 2007