BC-A.1 BC-A.1 Purpose
BC-A.1.1
This Module contains requirements that have to be met by
financing company licensees with regards to their dealings withcustomers . The Rules contained in this Module aim to ensure thatfinancing company licensees deal with their clients in a fair and open manner, and address theircustomers' information needs.January 2014BC-A.1.2
The Rules build upon several of the Principles of Business (see Module PB (Principles of Business)). Principle 1 (Integrity) requires
financing company licensees to observe high standards of integrity and fair dealing, and to be honest and straightforward in their dealings withcustomers . Principle 3 (Due skill, care and diligence) requiresfinancing company licensees to act with due skill, care and diligence when acting on behalf of theircustomers . Principle 7 (Client Interests) requiresfinancing company licensees to pay due regard to the legitimate interests and information needs of theircustomers , and to communicate with them in a fair and transparent manner.January 2014Legal Basis
BC-A.1.3
This Module contains the CBB's Directive (as amended from time to time) on business conduct by
financing company licensees , and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 (CBB Law). The Directive in this Module is applicable to allfinancing company licensees .January 2014BC-A.1.4
For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.
January 2014