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  • AU-B.1 AU-B.1 Scope of Application

    • AU-B.1.1

      The content of this Module applies to all financing company licensees authorised in the Kingdom of Bahrain, thereafter referred to in this Module as licensees.

      January 2013

    • AU-B.1.2

      Two types of authorisation are prescribed:

      (a) Any person seeking to provide a regulated financing company service within or from the Kingdom of Bahrain must hold the appropriate CBB license (see AU-1.1); and
      (b) Natural persons wishing to perform a controlled function in a licensee also require prior CBB's approval, as an approved person (see AU-1.2).
      January 2013

    • AU-B.1.3

      The Authorisation requirements in Chapter AU-1 have general applicability, in that they prevent any person from providing (or seeking to provide) regulated financing company services within or from the Kingdom of Bahrain, unless they have been licensed as a financing company (conventional or Islamic) by the CBB (see Rule AU-1.1.1).

      January 2013

    • AU-B.1.4

      The remaining requirements in Chapters AU-1 to AU-3 (besides those mentioned in Section AU-B.2 above) apply to all those licensed by the CBB as a financing company licensee, or which are in the process of seeking such a license. They apply regardless of whether the person concerned is incorporated in the Kingdom of Bahrain, or in an overseas jurisdiction, unless otherwise specified.

      January 2013

    • AU-B.1.5

      Chapter AU-2 applies to licensees (not just applicants), since licensing conditions have to be met on a continuous basis by licensees. Similarly, Chapter AU-3 applies to approved persons on a continuous basis; it also applies to licensees seeking an approved person authorisation. Chapter AU-4 contains requirements applicable to licensees, with respect to the starting up of their operations, as well as to licensees and approved persons, with respect to the amendment or cancellation of their authorised status. Finally, Section AU-5.2 imposes annual fees on licensees.

      January 2013