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  • BR-1 BR-1 Prudential Reporting

    • BR-1.1 BR-1.1 Annual Requirements

      • BR-1.1.1

        All licensees are required to submit to the CBB their annual audited financial statements within 3 months of their financial year end.

        January 2013

      • BR-1.1.2

        In addition to the statements required in Paragraph BR-1.1.1, licensees are required to submit to the CBB the following information within 3 months of their financial year end:

        (a) The external auditor's management letter;
        (b) Audited financial statements of all subsidiaries (whether or not consolidated) along with their management letters;
        (c) The financing company's group structure and the internal organisation chart;
        (d) A list of non-performing and rescheduled credit facilities (including name of customer, country, amount outstanding, net interest income/ profit for the year attributed to profit & loss and the reasons for attributing interest/ profit to income);
        (e) A reconciliation statement between the audited financial statements and the relevant prudential returns;
        (f) The report on controllers as required under Paragraph GR-4.1.10;
        (g) A report on the licensee's close links as required under Paragraph GR-5.1.3;
        (h) [This Sub Paragraph was deleted in October 2014];
        (i) Any supplementary information as required by the CBB; and
        (j) An agreed upon procedures report concerning the completeness of disclosures required by Module PD, Section PD-1.3 and Chapter PD-4 (see also AA-3.2.2).
        (k) Report on the number of hours completed during the previous year in Continuous Professional Development (CPD) via CPD Form in Appendix BR-22 by the approved persons specifically board of directors and management as required under Paragraph TC-1.2.1.
        Amended: April 2017
        Amended: October 2014
        Amended: April 2014
        Amended: July 2013
        Added: January 2013

      • BR-1.1.2A

        In accordance with Paragraph HC-1.3.9, licensees must submit annually a report recording the board meetings held during the year. Such report must be submitted to the CBB, within 30 calendar days of the financial year end, as an attachment to the year-end quarterly PIRFM. Reference should be made to Appendix BR-5, Board and Committee Meetings, under part B/Reporting Forms of Volume 5 for a sample of such report.

        Amended: January 2022
        Added: October 2014

      • BR-1.1.3

        In accordance with the provisions of Section AA-4.1, the audited financial statements and the annual reports of the licensees must be in full compliance with:

        (a) The International Financial Reporting Standards (IFRS); or
        (b) AAOIFI Financial Accounting Standards for Sharia Compliant Financing Companies and for products and activities not covered by AAOIFI, International Financial Reporting Standards (IFRS)/International Accounting Standards (IAS) must be followed; and
        (c) The disclosure requirements set out under Sections PD-1.2, PD-1.3 and PD-1.4.
        January 2013

      • Annual Report

        • BR-1.1.4

          Licensees must submit a soft copy (electronic) of their full annual report to the CBB within 4 months of the end of their financial year (SeePD-1.2.6).

          Amended: January 2022
          January 2013

    • BR-1.2 BR-1.2 Interim Financial Statements

      • BR-1.2.1

        Licensees that are listed companies are required to submit to the CBB reviewed (unaudited) quarterly financial statements in accordance with the requirements outlined in Volume 6 (Capital Markets).

        January 2013

      • BR-1.2.2

        Licensees that are non-listed companies are required to submit to the CBB reviewed (unaudited) semi-annual financial statements on a semi-annual basis, within two months of the date of these statements. The semi-annual financial statements are to be presented in accordance with IFRS and/or AAOIFI (for sharia-compliant licensees).

        Amended: January 2014
        January 2013

      • BR-1.2.3

        The statements mentioned under Paragraphs BR-1.2.1 and BR-1.2.2 must be in compliance with the requirements set out under Section PD-2.1.

        January 2013

      • Additional Reporting Requirements for Semi Annual Disclosures

        • BR-1.2.4

          Licensees are required to submit to the CBB within two months of the end of the half year an agreed upon procedures report concerning the completeness of disclosures required by Paragraph PD-2.1.6.

          Added: April 2014

      • Requirement to Submit Draft Interim and Year-end Financial Statements

        • BR-1.2.5

          In addition to the interim financial statements requirements under Paragraphs BR-1.2.1 and BR-1.2.2, licensees must submit their draft interim and year-end financial statements to the CBB at least one week before their board meets to discuss the interim and year-end financial statements.

          Added: October 2015

        • BR-1.2.6

          Licensees that are listed companies must comply with Paragraph BR-1.2.5 on a quarterly basis, while non-listed licensees must comply on a semi-annual basis.

          Added: October 2015

      • Requirement to Submit Financial Review Report

        • BR-1.2.7

          When submitting the draft interim and year-end financial statements required under Paragraph BR-1.2.5, licensees must also submit the prescribed financial review report. The prescribed format of the report for conventional licensees is Appendix BR-11 while Islamic licensees must submit Appendix BR-12. Both appendices are included under Part B of Volume 5.

          Added: October 2015

    • BR-1.3 BR-1.3 Quarterly Prudential Requirements

      • PIRFM

        • BR-1.3.1

          All licensees must complete the PIRFM form (see Appendix BR-1 under Part B of Volume 5 for financing companies). This form is intended to be a financial report of the licensee on a consolidated basis.

          Amended: October 2014
          January 2013

        • BR-1.3.2

          The PIRFM form referred to under Paragraph BR-1.3.1 must be submitted to the CBB on a quarterly basis within 30 calendar days of the end of the reporting date.

          Amended: January 2022
          Amended: October 2014
          January 2013

        • BR-1.3.3

          The CBB requires all licensees to request their external auditor to conduct a review of the prudential return on a quarterly basis. The results of such review (in the form of an Agreed Upon Procedures report as shown in Appendix BR-6) must be submitted to the CBB's relevant supervision Directorate no later than 2 months from the end of the subject quarter. A licensee may apply for an exemption from this requirement provided that it meets the criteria set out under Paragraph BR-1.3.4.

          January 2013

        • BR-1.3.4

          Licensees which demonstrate to the satisfaction of the CBB that they have fulfilled all of the CBB's requirements with regard to Prudential Returns for at least two consecutive quarters may apply (in writing) to the CBB for an exemption from the review procedure set out in Paragraph BR-1.3.3. Such exemption may be withdrawn by the CBB at any time, should errors be detected.

          January 2013

      • Liquidity Reporting Requirements

        • BR-1.3.5

          In accordance with Paragraph LM-3.2.1, licensees must report their stock liquidity and maturity mismatch ratios. The reporting of these ratios is included as part of the PIRFM return required under Paragraph BR-1.3.1. Licensees must note however that the liquidity requirements are only applicable to Bahrain operations as outlined in Paragraph LM-1.2.1.

          Amended: October 2014
          Added: January 2014

    • BR-1.4 BR-1.4 Monthly Requirements

      • BR-1.4.1

        All licensees which are listed on a licensed exchange in Bahrain must comply with the requirements of Volume 6 of the CBB Rulebook.

        January 2013

      • Connected Counterparty Exposures

        • BR-1.4.2

          All licensees are required to submit to the CBB their exposures to connected parties on a monthly basis on the fourth working day of the month.

          January 2013

        • BR-1.4.3

          For instructions relating to the reporting required as per Paragraph BR-1.4.2, reference should be made to Appendix BR-8 and for the concerned reporting forms refer to Appendix BR-7, found under Part B of Volume 5.

          January 2013

    • BR-1.5 BR-1.5 IIS Reporting Requirements

      • Institutional Information System (IIS)

        • BR-1.5.1

          All licensees are required to complete online non-financial information related to their institution by accessing the CBB's institutional information system (IIS). Licensees must update the required information at least on a quarterly basis or when a significant change occurs in the non-financial information included in the IIS. If no information has changed during the quarter, the licensee must still access the IIS quarterly and confirm that the information contained in the IIS is correct. Licensees must ensure that they access the IIS within 20 calendar days from the end of the related quarter and either confirm or update the information contained in the IIS.

          Amended: April 2013
          January 2013

        • BR-1.5.2

          Licensees failing to comply with the requirements of Paragraph BR-1.5.1 or reporting inaccurate information may be subject to financial penalties or other enforcement action as outlined in Module (EN) Enforcement.

          January 2013

    • BR-1.6 BR-1.6 Internet Security Measures

      • BR-1.6.1

        In accordance with Section OM-5.2, licensees providing internet financial services must regularly test their systems against security breaches and submit the vulnerability assessment report to the CBB.

        Added: January 2014

      • BR-1.6.2

        The report referred to under Paragraph BR-1.6.1 must be conducted in accordance with Section OM-5.2 and submitted to the CBB twice a year, within two months following the end of the month where the testing took place, i.e. for the June test, the report must be submitted at the latest by 31st August and for the December test, by 28th February.

        Added: January 2014

    • BR-1.7 BR-1.7 Onsite Inspection Reporting

      • BR-1.7.1

        For the purpose of onsite inspection by the CBB, licensees must submit requested documents and completed questionnaires to the Inspection Directorate at the CBB three working days ahead of inspection team entry date.

        Added: April 2017

      • BR-1.7.2

        Licensees must review the contents of the draft Inspection Report and submit to the Inspection Directorate at the CBB a written assessment of the observations/issues raised within fifteen working days of receipt of such report. Evidentiary documents supporting management’s comments must also be included in the response package.

        Amended: January 2022
        Added: April 2017

      • BR-1.7.3

        Licensees' board are required to review the contents of the Inspection Report and submit within one month, of the report issue date, a final response to such report along with an action plan addressing the issues raised within the stipulated timeline.

        Added: April 2017

      • BR-1.7.4

        Licensees failing to comply with the requirements of Paragraphs BR-1.7.1 and BR-1.7.2 are subject to date sensitive requirements and other enforcement actions as outlined in Module (EN) Enforcement.

        Added: April 2017