FC-1.6.5

Article 20 of Decree Law No. 21 of 1989 (issuing the Law of Social and Cultural Societies and Clubs and Private Organizations Operating in the Area of Youth and Sport and Private Institutions) provides that Islamic bank licensees must not accept or process any incoming or outgoing fund transfers in any form (wire transfer, cheques, etc.) from or to any foreign association on behalf of charity and non-profit organisations, societies, federations and clubs licensed by the Ministry of Social Development or the Ministry of Youth Affairs, General Sports Authority and Bahrain Olympic Committee without the prior approval of the relevant Ministry/Authority.

Amended: October 2025
Amended: July 2019
Added July 09