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  • S S

    • Senior Manager/Management

      Refers to individuals occupying the position of CEO or head of function.

    • Service level agreement(s)

      An agreement forming part of the Outsourcing Agreement between the outsourcing service provider and the licensee that outlines the standards of service to be provided by the outsourcing service provider.

      Added: April 2012

    • Shareholders

      Persons who own shares in a company.

      Amended: January 2011

    • Significant transaction

      For purposes of Module FC, in the absence of automated transaction monitoring systems, all transactions above BD 6,000 must be viewed as "significant".

    • Specialised Licensee(s)

      A person licensed under Volume 5 of the CBB Rulebook.

    • Stock liquidity ratio (for Financing companies)

      Expressed as a percentage, must be calculated on each business day and is the ratio of the sum of the licensee's liquid assets, net of deductions required under Paragraph LM-1.2.6, divided by the sum of qualifying liabilities.

      Added: January 2014

    • Subsidiary or subsidiary undertaking

      A company or other enterprise controlled by another company or enterprise (the parent or the holding company), including any other legal entity or other forms such as contractual agreements, where the licensee exercises a majority shareholding or has majority voting control by virtue of direct ownership or by proxy/nominee arrangements.

      Amended: April 2012
      Added: January 2011

    • Succession plan

      A plan developed by a licensee that would lay down the licensee's strategy with respect to succession of various senior management or board positions within the licensee.

      Added: April 2012

    • Small business(es) (SMEs)

      Corporate entities, being an unlisted or unincorporated enterprise where the reported annual sales for the consolidated group of which the firm is a part is less than BD 2 million.

      Added: January 2014