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    • Bahrain domiciled CIU(s) (as defined under Volume 7)

      Bahrain domiciled CIUs are undertakings where:

      (a) The legal form of the CIU is established under the laws of the Kingdom of Bahrain; and
      (b) The CIU documents and contractual agreements are governed by the Laws of the Kingdom of Bahrain.
      Added: July 2013

    • Bahraini investment firm licensee

      An investment firm that is incorporated in the Kingdom of Bahrain (and is therefore not an overseas investment firm licensee). The same naming convention applies to the various sub-categories of investment firm: e.g. a Bahraini Category 1 investment firm is a Category 1 investment firm that is incorporated in the Kingdom of Bahrain. See AU-A.1.5; and overseas investment firm licensee below.

    • Beneficial Owner

      (a) In the context of legal persons, beneficial owner refers to the natural person(s) who ultimately owns or controls a customer, and/or the natural person on whose behalf a transaction is being conducted. It also includes those natural persons who exercise ultimate effective control over a legal person. Only a natural person can be an ultimate beneficial owner, and more than one natural person can be the ultimate beneficial owner of a given legal person.
      (b) In the context of legal arrangements, beneficial owner includes: (i) the settlor(s); (ii) the trustee(s); (iii) the protector(s) (if any); (iv) each beneficiary, or where applicable, the class of beneficiaries and objects of a power; and (v) any other natural person(s) exercising ultimate effective control over the arrangement. In the case of a legal arrangement similar to an express trust, beneficial owner refers to the natural person(s) holding an equivalent position to those referred above. When the trustee and any other party to the legal arrangement is a legal person, the beneficial owner of that legal person should be identified.
      (c) Reference to “ultimately owns or controls” and “ultimate effective control” refer to situations in which ownership/control is exercised through a chain of ownership or by means of control other than direct control.
      (d) Reference to “ultimate effective control” over trusts or similar legal arrangements includes situations in which ownership/control is exercised through a chain of ownership/control.
      Added: October 2017
      Amended: June 2025

    • Beneficiary

      (As used in Module FC): refers to the natural or legal person or legal arrangement who is identified by the originator as the receiver of the requested wire/crypto-asset transfer.

    • Beneficiary Financial Institution

      Refers to the financial institution which receives the wire/crypto-asset transfer from the ordering financial institution directly or through an intermediary financial institution and makes the funds/crypto-assets available to the beneficiary.

    • Bonds

      An instrument creating or acknowledging a present or future indebtedness (i.e. debentures, debenture stock, loan stock, bonds, certificates of deposit and any other instruments creating or acknowledging a present or future indebtedness), but excluding:

      (a) An instrument creating or acknowledging indebtedness for, or for money borrowed to defray, the consideration payable under a contract for the supply of goods and services;
      (b) A cheque or other bill of exchange, a bankers draft or a letter of credit (but not a bill of exchange accepted by a banker);
      (c) A banknote, a statement showing a balance on a bank account, or a lease or other disposition of property; and
      (d) A contract of insurance.
      Amended: January 2011

    • Branch(es)

      A place of business which is a part of a firm and which has no separate legal personality.

      Added: April 2011