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  • MAE-1.1 MAE-1.1 Requirement to be Licensed

    • MAE-1.1.1

      No person shall establish or operate a market, or hold himself out as operating a market in or from the Kingdom of Bahrain, unless the person is:

      (a) A licensed exchange;
      (b) A licensed market operator; or
      (c) An exempt exchange or market operator.
      Amended: April 2016

    • MAE-1.1.2

      No person in the Kingdom of Bahrain shall hold himself out:

      (a) As a licensed exchange unless he is a licensed exchange; or
      (b) As a licensed market operator unless he is a licensed market operator.

    • MAE-1.1.3

      Except with the written approval of the CBB, no person other than a licensed or exempt exchange shall take or use, or have attached to or exhibited at any place:

      (a) The title or description "securities exchange", "stock exchange", "futures exchange" or "derivatives exchange" in any language; or
      (b) Any title or description which resembles a title or description referred to in Subparagraph MAE-1.1.3 (a).
      Amended: April 2016

    • MAE-1.1.4

      No person may market any financial services in the Kingdom of Bahrain unless:

      (a) Allowed to do by the terms of a license issued by the CBB;
      (b) The activities come within the terms of an exemption granted by the CBB by way of a Directive; or
      (c) Has obtained the express written permission of the CBB to offer financial services.
      Added: April 2013

    • MAE-1.1.5

      In accordance with Resolution No.(16) for the year 2012 and for the purpose of Paragraph MAE-1.1.4, the word 'market' refers to any promotion, offering, announcement, advertising, broadcast or any other means of communication made for the purpose of inducing recipients to purchase or otherwise acquire financial services in return for monetary payment or some other form of valuable consideration.

      Added: April 2013

    • MAE-1.1.6

      Persons in breach of Paragraph MAE-1.1.4 are considered in breach of Resolution No.(16) for the year 2012 and are subject to penalties under Articles 129 and 161 of the CBB Law.

      Added: April 2013