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  • Application Form and Documents

    • AU-4.1.1

      Applicants for a license must fill in the Application Form 1 (Application for a License) online, available on the CBB website under Eservices/online Forms. The applicant must upload scanned copies of supporting documents listed in Paragraph AU-4.1.4, unless otherwise directed by the CBB.

      Amended: July 2019
      Amended: April 2018
      December 2010

    • AU-4.1.2

      Articles 44 to 47 of the CBB Law govern the licensing process. This prescribes a single stage process, with the CBB required to take a decision within 60 calendar days of an application being deemed complete (i.e. containing all required information and documents). See below, for further details on the licensing process and time-lines.

      December 2010

    • AU-4.1.3

      References to applicant mean the proposed licensee seeking authorisation. An applicant may appoint a representative — such as a law firm or professional consultancy — to prepare and submit the application. However, the applicant retains full responsibility for the accuracy and completeness of the application, and is required to certify the application form accordingly. The CBB also expects to be able to liaise directly with the applicant during the authorisation process, when seeking clarification of any issues.

      December 2010

    • AU-4.1.4

      Unless otherwise directed by the CBB, the following documents must be provided in support of a Form 1:

      (a) A duly completed Form 3 (Application for Approved Person status), for the individual proposed to undertake the controlled function (as defined in Rule AU-1.2.1 ) in the proposed licensee;
      (b) The detailed application information, addressing the matters described in Paragraph AU-4.1.5;
      (c) A copy of the company's current commercial registration or equivalent documentation;
      (d) A certified copy of a Board resolution of the applicant, confirming its decision to seek a CBB representative office license;
      (e) A letter of non-objection to the proposed license application from the applicant's home supervisor, together with confirmation that the group is in good regulatory standing and is in compliance with applicable supervisory requirements, including those relating to capital requirements;
      (f) A copy of the certificate of license issued by the Regulated Authority of the head office/parent company; and
      (g) Copies of the audited financial statements of the applicant (head office) for the three years immediately prior to the date of application.
      December 2010

    • AU-4.1.5

      The Detailed Application Information submitted in support of an application must explain:

      (a) An outline of the history of the applicant and its shareholders;
      (b) The reasons for applying for a license, including the applicant's strategy and market objectives;
      (c) The proposed type of activities to be carried on by the applicant in/from the Kingdom of Bahrain and an indication of the number of personnel to be assigned to the office;
      (d) The name and position of the officer in the applicant's head office to whom the representative office manager will report and an outline of how the activities of the representative office are to be monitored to ensure that the CBB conditions are met on an on going basis; and
      (e) Details of ownership of the applicant's head office in financial institutions located in Bahrain and an outline of the nature of the business carried on by those institutions.
      December 2010

    • AU-4.1.6

      All documentation provided to the CBB as part of an application for a license must be in either the Arabic or English languages. Any documentation in a language other than English or Arabic must be accompanied by a certified English or Arabic translation thereof.

      December 2010

    • AU-4.1.7

      Any material changes or proposed changes to the information provided to the CBB in support of an authorisation application that occurs prior to authorisation must be reported to the CBB.

      December 2010

    • AU-4.1.8

      Failure to inform the CBB of the changes specified in Rule AU-4.1.7 is likely to be viewed as a failure to provide full and open disclosure of information, and thus a failure to meet licensing condition Rule AU-2.7.2.

      December 2010