PB-A PB-A Introduction
PB-A.1 PB-A.1 Purpose
Executive Summary
PB-A.1.1
The Principles of Business are a general statement of the fundamental obligations of all Central Bank of Bahrain ('CBB')
specialised licensees andapproved persons . They serve as a basis for other material in Volume 5 (Specialised Licensees), and help address specific circumstances not covered elsewhere in the Rulebook.October 2010PB-A.1.2
The Principles of Business have the status of Rules and apply alongside other Rules contained in Volume 5 (Specialised Licensees). However, these other Rules do not exhaust the fundamental obligations contained in the Principles. Compliance with all other Rules, therefore, does not necessarily guarantee compliance with the Principles of Business.
October 2010Legal Basis
PB-A.1.3
This Module contains the CBB's Directive (as amended from time to time) relating to Principles of Business 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 all
specialised licensees (including theirapproved persons ) where applicable.Amended: January 2011
October 2010PB-A.1.4
For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.
October 2010PB-A.2 PB-A.2 Module History
Evolution of Module
PB-A.2.1
This Module was first issued in October 2010. Any material changes that are subsequently made to this Module are annotated with the calendar quarter date in which the change is made; Chapter UG-3 provides further details on Rulebook maintenance and version control.
October 2010PB-A.2.2
A list of recent changes made to this Module is provided below:
Module Ref. Change Date Description of Changes PB-A.1.3 01/2011 Clarified legal basis.
