• BC-1.1 BC-1.1 General Rules

    • BC-1.1.1

      Licensees must comply with the best practices throughout the lifetime of their relationship with a customer. Chapter BC-1 sets out the minimum standards for microfinance institutions to follow when providing micro-credit and other services on which fees and/or interest (profit margin in case of Shari'a compliant micro-finance) are payable by customers in the Kingdom of Bahrain.

      January 2014

    • BC-1.1.2

      This Chapter applies where any licensee provides to a borrower any type of financial product creating a creditor relationship (including Shari'a compliant credit facilities of all types).

      January 2014

    • BC-1.1.3

      Licensees must put in place appropriate measures across all their business operations and distribution channels to ensure compliance with the requirements of this Chapter, where relevant. Licensees must maintain adequate records to demonstrate compliance with this Chapter.

      January 2014

    • BC-1.1.4

      The CBB may, from time to time, ask the compliance officer to report on the licensee's record of adherence to the requirements of Module BC.

      January 2014

    • BC-1.1.5

      Licensees should implement the requirements of Module BC and ensure that their staff is fully familiar with these.

      January 2014