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  • MIR-A.1 MIR-A.1 Purpose

    • Executive Summary

      • MIR-A.1.1

        Module MIR sets out the Central Bank of Bahrain's regulatory framework governing the licensing requirements of members undertaking any regulated activities in or from the Kingdom of Bahrain.

        Adopted January 2010

      • MIR-A.1.2

        The MIR Module seeks to introduce a consistent, effective and harmonised approach in regulation and supervision of members undertaking any regulated activities in or from the Kingdom of Bahrain. It sets out the CBB requirements for authorisation of the controlled functions within the members regarding the initial, as well as ongoing compliance requirements.

        Adopted January 2010

      • MIR-A.1.3

        The key principles underlying the approach of the CBB in this Module aim:

        (a) To promote fair, orderly and transparent conduct or transactions on any regulated activity undertaken by a member;
        (b) To facilitate and promote best international practices and conduct while undertaking or providing any regulated activity in or from Bahrain;
        (c) To reduce systemic risk;
        (d) To detect and deter manipulation and other misconduct;
        (e) To maintain integrity of trading through fair and equitable rules that strike an appropriate balance between the demands of different participants;
        (f) To maximize the regulatory effectiveness;
        (g) To minimize the regulatory cost; and
        (h) To maintain market integrity and investor confidence.
        Adopted January 2010

      • MIR-A.1.4

        Persons or entities undertaking any regulated activities or functions require prior CBB licensing and/or authorisation. MIR-B.2 provides the definitions for members which are impacted by this Module. These include, but are not limited to entities providing the following regulated activities:

        (a) Undertaking or providing services related to arranging or trading in securities, whether as principal or as an agent;
        (b) Undertaking or providing any services related to the clearing, settlement of securities transactions, whether as principal or agent;
        (c) Undertaking or providing services related to the depositing of securities with a licensed depository.
        Adopted January 2010