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  • Compliance

    • PD-1.1.20

      The Annual Report must include a declaration by the external auditor that no violations have taken place of:

      (a) The Bahrain Commercial Companies Law of 2001 (as amended);
      (b) The CBB Law; and
      (c) The CBB's insurance Directives and Regulations (as contained in Volume 3 of the CBB Rulebook),

      insofar as the violations have any material impact on the financial statements of the firm.

      Amended: January 2007
      Amended: October 2007

    • PD-1.1.21

      In accordance with Paragraph EN-B.4.5, insurance firms must disclose in their Annual Report the amount of any financial penalties paid to the CBB, together with a factual description of the reason(s) given by the CBB for the penalty. Insurance firms which fail to comply with this requirement will be required to make the disclosure in the annual report of the subsequent year and will be subject to an enforcement action for non-disclosure.

      Amended: October 2019
      Amended: January 2007
      Amended: October 2007