PD-A.1 PD-A.1 Purpose
PD-A.1.1
The purpose of this Module is to set out the detailed qualitative and quantitative public disclosure requirements that the
microfinance institutions should adhere to in order to enhance corporate governance and financial transparency through better public disclosure. Such disclosures also help to protect customers and facilitate market discipline.January 2014PD-A.1.2
ThisModule provides support for certain other parts of the Rulebook, namely:
(a) Licensing and Authorisation Requirements;(b) CBB Reporting Requirements;(c) Risk Management;(d) High Level Controls;(e) Relationship with Audit Firms; and(f) Enforcement actions.January 2014PD-A.1.3
This Module also provides support for certain aspects relating to disclosure requirements stipulated in the Central Bank of Bahrain and Financial Institutions Law (Decree No. 64 of 2006) and the Bahrain Commercial Companies Law (as amended).
January 2014Legal Basis
PD-A.1.4
This Module contains the Central Bank of Bahrain's ('the CBB') Directive (as amended from time to time) relating to public disclosure 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'). It also incorporates the requirements of Article 62 (as amended from time to time) of the CBB Law with respect to the publication of financial statements. The Directive in this Module is applicable to all
microfinance institution licensees .January 2014PD-A.1.5
For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.
January 2014