Authorisation Process
CIU-1.1.5
An application for authorisation under Rule CIU-1.1.1 must be made using a Form CIU(A) (Application for Authorisation of a CIU), submitted under a formal cover letter signed by two authorised signatories of the applicant, together with all supporting documentation requested.
CIU-1.1.6
The application for authorisation must identify an individual, for approval by CBB as an
approved person , in their capacity as the person responsible for theCIU . This person must be:(a) An officer of aCBB licensee ;(b) Resident in Bahrain; and(c) An individual capable of being contacted by the CBB by post, telephone, fax and/or e-mail.CIU-1.1.7
The CBB will acknowledge applications made under Rule CIU-1.1.5 within 7 calendar days of receipt and provide formal feedback on the application within 21 calendar days of receipt. This feedback will confirm whether the application is complete, or whether further information is required.
CIU-1.1.8
Should the application be deemed complete, then a final decision on the application will be issued within 30 calendar days of its receipt by the CBB. Should further information be required, then the applicant has 90 calendar days from the date of the CBB's feedback in which to complete the application, failing which the application will be cancelled by the CBB and a new one will need to be submitted. If all outstanding information is submitted and the CBB confirms the application to be complete, then the CBB will take a final decision within 30 calendar days of the CBB's confirmation that the application is complete.
