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  • AU-A AU-A Introduction

    • AU-A.1 AU-A.1 Purpose

      • Executive Summary

        • AU-A.1.1

          The Authorisation Module sets out the CBB's approach to licensing representative offices in the Kingdom of Bahrain. It also sets out CBB requirements for approving persons undertaking key function in those licensees.

          December 2010

        • AU-A.1.2

          The person undertaking the function of Representative Office Manager ('Rep Manager') in relation to a representative office licensee requires prior CBB approval. This function is referred to as a 'controlled function'. The controlled function regime supplements the licensing regime by ensuring that this key person responsible of the representative office is fit and proper. This person authorised by the CBB to undertake a controlled function in a representative office licensee is called an approved person.

          December 2010

      • Retaining Authorised Status

        • AU-A.1.3

          The requirements set out in Chapters AU-2 and AU-3 represent the minimum conditions that have to be met in each case, both at the point of authorisation and on an on-going basis thereafter, in order for authorised status to be retained.

          December 2010

      • Legal Basis

        • AU-A.1.4

          This Module contains the Central Bank of Bahrain ('CBB') Directive, Regulations and Resolutions (as amended from time to time) regarding authorisation under Volume 5 of the CBB Rulebook. It is applicable to all representative offices (as well as to approved persons), and is issued under the powers available to the CBB under Articles 37 to 42, 44 to 48 and 180 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). Representative office licensees must also comply with Resolution No. 1 of the year 2007 'new license fees system' (as amended from time to time). The Module contains requirements under Resolution No.(16) for the year 2012 including the prohibition of marketing financial services pursuant to Article 42 of the CBB Law. The Module also contains requirements governing the conditions of granting a license for the provision of regulated services as prescribed under Resolution No (43) of 2011 and issued under the powers available to the CBB under Article 44(c). This Module contains the prior approval requirements for approved persons under Resolution No (23) of 2015.

          Amended: July 2015
          Amended: January 2013
          December 2010

        • AU-A.1.5

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

          December 2010

    • AU-A.2 AU-A.2 Module History

      • Evolution of Module

        • AU-A.2.1

          This Module was first issued in December 2010, as part of Volume 5 (Specialised licensees). Any material changes that have subsequently been made to this Module are annotated with the calendar quarter date in which the change was made: Chapter UG-3 provides further details on Rulebook maintenance and version control.

          December 2010

        • AU-A.2.2

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

          Module Ref. Change Date Description of Changes
          AU-A.1.4 01/2013 Updated legal basis.
          AU-1.1 01/2013 References added to requirements under Resolution No.(16) for the year 2012.
          AU-4.4.4 01/2013 Corrected cross reference to CBB Law.
          AU-5.2 07/2013 Amended due date and collection process for annual license fee.
          AU-A.1.4 07/2015 Legal basis updated to reflect Resolution No (43) of 2011 and Resolution No (23) of 2015.
          AU-4.2 07/2015 Amended to be in line with Resolution No (23) of 2015 on Prior Approval Requirements for Approved Persons.
          AU-3 01/2016 Amended to be in line with Resolution No (23) of 2015 on Prior Approval Requirements for Approved Persons.
          AU-4.2 01/2016 Minor amendments to be aligned with other Volumes of the Rulebook.
          AU-4.5 07/2017 Added new Section on Publication of the Decision to Grant, Cancel or Amend a License.
          AU-4.1.1 04/2018 Amended Paragraph.
          AU-4.1.10 04/2018 Amended Paragraph.
          AU-4.2.2 04/2018 Amended Paragraph.
          AU-1.1.4 07/2019 Amended Paragraph to reflect online submission of Form 1.
          AU-4.1.1 07/2019 Amended Paragraph to remove references to hardcopy Form 1 submission to online submission.
          AU-4.1.13 10/2019 Changed from Rule to Guidance.
          AU-4.1.14 10/2019 Changed from Rule to Guidance.
          AU-4.1.15 10/2019 Changed from Rule to Guidance.
          AU-4.5.1 10/2019 Changed from Rule to Guidance.
          AU-4.2.8 01/2021 Added a new Paragraph on compliance of approved persons with the fit and proper requirement.

      • Superseded Requirements

        • AU-A.2.3

          This Module supersedes the following provisions contained in circulars or other regulatory instruments:

          Document reference Module Ref. Document Subject
          Standard Conditions and Licensing Criteria for a representative office licensees AU-2 Scope of license and licensing conditions.
          Circular EDFIS/C/011/2007 AU-5 CBB's New License Fees System
          Circular BC/11/98 27/7/98 AU-3 Appointment and suitability of Directors and senior managers ('fit and proper').
          December 2010

        • AU-A.2.4

          Further guidance on the implementation and transition to Volume 5 (Specialised Licensees) is given in Module ES (Executive Summary).

          December 2010