BR-1.1.1

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

BR-1.1.2

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:

BR-1.1.3

In addition to the statements required in Paragraph BR-1.1.1, licensees are required to submit to the CBB the following information within 4 months of the financial year end:

BR-1.1.4

In accordance with Paragraph HC-1.3.8, 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 end of the reporting date, as an attachment to the year-end quarterly PIRMF. 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.

BR-1.2.1

All licensees must complete the PIRMF form (see Appendix BR-1 under Part B of Volume 5 for microfinance institutions). This form is intended to be a financial report of the licensee on a consolidated basis. Licensees must include all assets and liabilities of their head office and their branches in Bahrain (if any) and abroad (and subsidiaries, where applicable).

BR-1.2.2

The PIRMF forms referred to under Paragraph BR-1.2.1 must be submitted to the CBB on a quarterly basis within 30 calendar days of the end of the reporting date.

BR-1.2.3

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-3) 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 exemption from this requirement provided that it meets the criteria set out under Paragraph BR-1.2.4.

BR-1.2.4

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-1.2.3.

BR-1.2.5

[This Paragraph was deleted in April 2014.]

BR-1.3.1

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

Institutional Information System (IIS)

BR-1.5.1

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.

BR-1.5.2

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 ten working days of receipt of such report. Evidentiary documents supporting management's comments must also be included in the response package.

BR-1.5.3

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.

BR-1.5.4

Licensees failing to comply with the requirements of Paragraphs BR-1.5.1 and BR-1.5.2 are subject to date sensitive requirements and other enforcement actions as outlined in Module (EN) Enforcement.