CP-1.1.3
Past version: Effective from 01 Oct 2007 to 31 Dec 2010
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The Board should consist of the following persons, whose period of membership of the Board (other than in the case of the person referred to in Paragraph CP-1.1.3(e) below) should be for a three year renewable period:
(a) two representatives of the Central Bank, who shall be appointed by the Governor of the Central Bank, one of whom should be Chairman of the Board;
(b) four representatives of commercial banking firms in Bahrain, who should be appointed by the Governor of the Central Bank following consultation with the Bankers' Society of Bahrain;
(c) one representative of each of the Ministries of Finance and National Economy, of Justice and Islamic Affairs, and of Commerce, who should be appointed by their Ministers;
(d) one representative of the Bahrain Chamber of Commerce and Industry, who should be appointed by the President thereof; and
(e) upon a commercial banking firm becoming a relevant bank in accordance with Section CP-1.2,
and for the purpose of the operation of the Scheme in the case of that relevant bank only, the liquidator of such relevant bank.
October 07