BR-5.1.16

Past version: Effective from 01 Apr 2010 to 30 Jun 2011
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All banks (or Bahrain-based branches of foreign banks) must seek prior written approval from the CBB before transferring assets or liabilities of a material nature to a third party, except where such transfers are effected within the normal scope of the bank's operations (see GR-4.1). In this context 'material' would mean: an amount which exceeds 5% of total assets or liabilities of the bank or branch concerned.

Added: April 2010