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  • TA-A TA-A Introduction

    • TA-A.1 TA-A.1 Purpose

      • Executive Summary

        • TA-A.1.1

          This Module summarises the key aspects of CBB requirements applicable to takaful and retakaful firms licensed in Bahrain, which are set out in full elsewhere in the different subject Modules of Volume 3 (Insurance). This Module is intended as an introductory guide to these Regulations and Directives, for potential license applicants, takaful and retakaful insurance firms and other interested parties. This Module only contains guidance material; in the event of discrepancy between this Module and the rules themselves, the latter will prevail.

          Amended: January 2007

      • Legal Basis

        • TA-A.1.2

          This Module contains the Central Bank of Bahrain's ('CBB') Directive (as amended from time to time) relating to Takaful/Retakaful 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 (including their approved persons).

          Amended: January 2011
          Added: January 2007

        • TA-A.1.3

          For an explanation of the CBB’s rule-making powers and different regulatory instruments, see Section UG-1.1.

          Added: January 2007

    • TA-A.2 TA-A.2 Module History

      • TA-A.2.1

        This Sector Guide was first issued in April 2005 by the BMA together with the rest of Volume 3 (Insurance). Any material changes that have subsequently been made to this Module are annotated with the calendar date in which the change was made. Chapter UG-3 provides further details on Rulebook maintenance and version control.

        Amended: January 2007

      • TA-A.2.2

        When the CBB replaced the BMA in September 2006, the provisions of this Module remained in force. Volume 3 was updated in January 2007 to reflect the switch to the CBB; however, new calendar quarter dates were only issued where the update necessitated changes to actual requirements.

        Added: January 2007

      • TA-A.2.3

        A list of recent changes made to this Module is provided below:

        Module Ref. Change Date Description of Changes
        TA-1.1 01/07/05 Minor word change.
        TA-1.2 01/07/05 Minor word change.
        TA-2.2 01/07/05 Minor word change.
        TA-2.4 01/07/05 Minor word change.
        TA-3.2 01/07/05 Minor word change.
        TA-4.1 01/07/05 Corrected references.
        TA-4.2 01/07/05 Clarified language of takaful disclosure.
        TA-3.4 01/10/05 Update cross-references to Module FC.
        TA-A.1.2 01/2007 Updated to reflect new CBB Law and new Rule A.1.2 introduced categorising th Module as a Directive.
        TA-2.4 01/2007 Amended section to be in line with changes made for actuaries.
        TA-A.1.2 01/2011 Clarified legal basis
        TA-1.2.1 and TA-2.3 04/2011 Amended to reflect changes to Module HC.
        TA-1.2.1, TA-2.4.3, TA-2.4.4, TA-3.1.3 and TA-3.1.13A 04/2014 Updated to reflect the consultation on the enhanced operational and solvency framework for Takaful firms.

      • TA-A.2.3 [Deleted]



        Deleted: January 2007

      • TA-A.2.4

        Guidance on the implementation and transition to Volume 3 (Insurance) is given in Module ES (Executive Summary).

        Amended: January 2007