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  • Commencement of Operations

    • CRA-1.2.26

      Prior to commencement of operation the new licensee must provide to the CBB (if not previously submitted):

      (a) The registered office address and details of premises to be used to carry out the business of the proposed licensee;
      (b) [This Sub-paragraph was deleted in April 2023];
      (c) The licensee's contact details including telephone and fax number, e-mail address and website;
      (d) [This Sub-paragraph was deleted in April 2023];
      (e) [This Sub-paragraph was deleted in April 2023];
      (f) A copy of the auditor's acceptance to act as auditor for the applicant;
      (g) A certificate from a retail bank operating in Bahrain certifying that the capital is deposited;
      (h) A copy of the licensee's professional indemnity insurance policy;
      (i) A copy of the applicant's notarized memorandum and articles of association, addressing the matters described in Paragraph CRA-1.2.9;
      (j) A copy of the commercial registration certificate in Arabic and in English from the Ministry of Commerce, Industry and Tourism;
      (k) [This Sub-paragraph was deleted in April 2023];
      (l) Any other information as may be specified by the CBB;
      (m) A written confirmation, addressed to the CBB, from a licensed retail bank, stating that necessary banking arrangements, including opening of accounts (both corporate account and client money account) has been made by the applicant; and
      (n) Where the licensee has entered into an agreement with a third party, other than a licensed bank, for the purpose of transfer of funds, a copy of the written agreement between the licensee and the third party.
      Amended: April 2023
      Added: April 2019

    • CRA-1.2.27

      Licensees must commence their commercial operations within 6 months of being granted a license by the CBB, failing which the CBB may cancel the license, in accordance with the provisions of the CBB Law.

      Amended: April 2023
      Added: April 2019

    • CRA-1.2.28

      [This Paragraph was deleted in April 2023].

      Deleted: April 2023
      Added: April 2019