PD-5.1.2
Past version: Effective from 01 Apr 2008 to 30 Sep 2010
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Non-listed locally incorporated banks may apply to the Central Bank to disclose their quarterly financial statements via the internet. If a bank wishes to cease disclosure of quarterly financial statements via the local press, it must satisfy the following criteria:
(a) The bank has no shareholders resident in Bahrain.
(b) The bank has no customers resident in Bahrain. Customers
include borrowers, depositors, investment account holders or
persons from whom the bank earns fees or commissions.
'Customers' in this context would not include other banks, but
would include Bahraini corporations, the Government of Bahrain
and its agencies, and private individuals (whether high net worth
or not).
(c) The bank does not market itself in any way to residents of
Bahrain. In particular, the bank should not market funds or
other financial products to residents, even if the bank has no on
balance sheet assets or liabilities arising from Bahraini residents.
April 2008