EN-8.1.1
Past version: Effective from 01 Oct 2007 to 30 Sep 2010
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Article 136 of the Central Bank of Bahrain and Financial Institutions Law (Decree No. 64 of 2006) ("CBB Law") empowers (but does not oblige) the Central Bank to assume the administration of a licensee in certain circumstances. These circumstances are outlined in the above Article and may include the following:
(a) the licensee has become insolvent;
(b) its solvency is in jeopardy;
(c) its continued activity is detrimental to the financial services industry in the Kingdom; or
(d) its license has been cancelled.
Added: October 2007