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    • Family

      For purposes of Module AU, the term 'family' refers to father, mother, husband, wife, grandfather, grandmother, grandson and granddaughter.

      Added: January 2013

    • Financial instrument(s)

      Any of the following instruments:

      (a) Transferable securities;
      (b) Islamic financial instruments;
      (c) Money market instruments;
      (d) Units in collective investment undertakings;
      (e) Derivative contracts other than commodity derivatives;
      (f) Derivative contracts relating to commodities settled in cash;
      (g) Derivative contracts relating to commodities;
      (h) Credit derivatives;
      (i) Financial contracts for differences;
      (j) Other derivative contracts;
      (k) Interests in real estate property;
      (l) Certificates representing certain securities; and
      (m) Rights or Interests in Financial Instruments.
      Added: January 2013

    • Financing companies or financing company licensee(s)

      A person licensed under Volume 5 of the CBB Rulebook to undertake regulated financing company services.

      Amended: January 2013

    • Financial services (as used in Module AU)

      For the purpose of Module AU, financial services means:

      (a) Any dealings in any instrument defined as a financial instrument in any Volume of the CBB Rulebook;
      (b) Any arrangement where money, goods or services are made available to a person in exchange for his promise to pay at a later date and that arrangement is of a type habitually provided by another person for commercial gain;
      (c) Any arrangement in which money is solicited from the public in return for a promise of financial gain on, or safekeeping of, that money; or
      (d) Any product or other financial services in the area of regulated services (regulated by the CBB) marketed in the Kingdom of Bahrain.
      Added: January 2013

    • Framework (as used in Module OM_Financing Companies)

      Framework refers to the operational risk framework of a licensee. An operational risk framework refers to the internal control systems of the licensee and contains five inter-related elements:

      (a) Establishing the control culture within the licensee and ensuring regular oversight by the Board and the Management of the licensee;
      (b) Risk recognition and assessment;
      (c) Control activities and segregation of duties;
      (d) Information and communication; and
      (e) Monitoring activities and correcting deficiencies.
      Added: January 2014

    • Fund administrators

      A person licensed under Volume 5 of the CBB Rulebook to undertake regulated administration services as defined in Paragraph AU-1.1.11.

      Amended: January 2011