GR-7.1.5

Past version: Effective from 01 Jan 2011 to 30 Sep 2011
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Once the Islamic bank licensee believes that it has discharged all its remaining contractual obligations to investment account holders, depositors, clients and creditors, it must publish a notice in two national newspapers in Bahrain approved by the CBB (one being in English and one in Arabic), stating that it has settled all its dues and wishes to leave the market. According to Article 50 of the CBB Law, such notice shall be given after receiving the approval of the CBB, not less than 30 days before the actual cessation is to take effect.

Amended: January 2011
October 2007