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  • General Requirement

    • AU-1.2.1

      Licensees must obtain the CBB's prior written approval for any person wishing to undertake a controlled function in a licensee. The approval from the CBB must be obtained prior to their appointment, subject to the variations contained in Paragraph AU-1.2.3.

      Amended: January 2016
      May 2011

    • AU-1.2.2

      Controlled functions are those functions occupied by board members and persons in executive positions and include:

      (a) Director;
      (b) Chief Executive or General Manager;
      (c) Head of function;
      (d) Compliance officer;
      (e) Money Laundering Reporting Officer (MLRO); and
      (f) Deputy Money Laundering Reporting Officer (if any).
      Amended: January 2016
      May 2011

    • AU-1.2.3

      Combination of the above controlled functions is subject to the CBB's approval. Controlled functions (b) to (f) are in relation to Bahrain operations.

      Amended: January 2013
      May 2011