• 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 2016

    • AU-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 a credit reference bureau - BD 100,000;
      (d) Payment service providers - BD 2,000;
      (e) Shari’a advisory/review services - BD 500;
      (f) Operating a crowdfunding 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 2016

    • AU-5.2.2A

      Licensees providing multiple regulated ancillary services are required to pay the annual license fees applicable for each activity in accordance with Paragraph AU-5.2.2.

      Added: January 2021

    • AU-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 2016

    • AU-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 2016

    • AU-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 2016

    • AU-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to financial penalties for date sensitive requirements as outlined in Section EN-5.3A or may have their licenses withdrawn by the CBB.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