PD-1.1.2
Past version: Effective from 01 Apr 2008 to 30 Sep 2010
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For the purpose of this Chapter, the following definitions apply:
(a) 'Director' includes any person who occupies the position of
a director and any person who appears to the Central
Bank to be a Director (howsoever called) of the
applicant/licensed locally incorporated bank and its
subsidiaries;
(b) 'Chief Executive/General Manager' means a person who is
responsible under the immediate authority of the directors
for the conduct of the applicant/licensed locally
incorporated bank, including its subsidiaries and overseas
branches , or Bahrain branches of foreign banks;
(c) 'Manager' means a person who, under the immediate
authority of a director or the chief executive/general
manager, exercises major managerial function(s) or is
accountable for maintaining accounts or other records of the
applicant/licensed bank;
(d) 'Interest in the shares' shall include, but not be limited
to, direct and/or indirect ownership of such shares, the right
of voting associated with such shares, the right to receive
dividends payable on such shares, and/or any right,
regardless of the form thereof, to purchase (or otherwise
acquire an interest in) such shares at any time;
(e) 'Audited financial statements' refers to the financial statements
required under AAOIFI or International Financial Reporting
Standards;
(f) 'Annual Report' refers to the document which contains the full
audited financial statements and accompanying notes as well as
any accompanying commentary by the senior officials of the
bank.
April 2008