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  • EN-10.1 EN-10.1 Overview

    • EN-10.1.1

      The CBB Law provides for a number of criminal sanctions in cases where certain provisions are contravened. This Section provides a summary of those sanctions most relevant to licensees, their Directors and employees. What follows is not a complete list of all sanctions provided for in the CBB Law, nor is it a substitute for reading the Law and being fully aware of its provisions.

      Amended: January 2007
      Amended: October 2007

    • EN-10.1.2

      Licensees, their Directors and employees should also be aware of the criminal sanctions provided for under other relevant Bahraini Laws, such as the Decree No. 4 of 2001, with respect to the prevention and prohibition of the laundering of money.

      Amended: January 2007
      Amended: October 2007

    • EN-10.1.3

      In all cases to do with criminal sanctions, the CBB can only refer the matter to the Office of the Public Prosecutor. The CBB has no authority to apply such sanctions without recourse to the courts.

      Amended: January 2007

    • EN-10.1.4

      Examples of fraudulent acts for which a Director, manager, official, agent or representative of any insurance licensee may be subject to penalty under the Penal Code include:

      (a) making false or misleading statements with fraudulent intent; and
      (b) omission, with fraudulent intent, to make any statement or any entry in the books or accounts of an insurance licensee.