AU-5.2 AU-5.2 Annual License Fees
AU-5.2.1
Licensees must pay the relevant annual license fee to the CBB on 1st December of the preceding year for which the fee is due.April 2016AU-5.2.2
The applicable fixed annual license fees are as follows:
(a) Third party administrators - BD 2,000;(b)Card processing services - BD 1,000;(c) Operating acredit reference bureau - BD 100,000;(d) Payment service providers - BD 2,000;(e) Shari’a advisory/review services - BD 500;(f) Operating acrowdfunding platform - BD 200;(g)Account information service providers - BD 1,000;(h)Payment initiation service providers - BD 1,000;(i) Any other ancillary services that are related to the financial services industry - BD 500.Amended: October 2020
Added: April 2016AU-5.2.2A
Licensees providing multipleregulated ancillary services are required to pay the annual license fees applicable for each activity in accordance with Paragraph AU-5.2.2.Added: January 2021AU-5.2.3
For new
licensees , their first annual license fee is the amount stated in Paragraph AU-5.2.2 and is payable when their license is issued by the CBB.April 2016AU-5.2.4
Where a license is cancelled (whether at the initiative of the firm or the CBB), no refund is paid for any months remaining in the calendar year in question, should a fee have been paid for that year.
April 2016AU-5.2.5
All
licensees are subject to direct debit for the payment of the annual fee and must complete and submit to the CBB a Direct Debit Authorisation Form by 15th September available under Part B of Volume 5 (Specialised Licensees) CBB Rulebook on the CBB Website.April 2016AU-5.2.6
Licensees failing to comply with this Section may be subject to financial penalties for date sensitive requirements as outlined in Section EN-5.3A or may have their licenses withdrawn by the CBB.April 2016
