OM-3.9.2

Past version: Effective from 01 Jan 2017 to 30 Sep 2017
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For a third party outsourcing of functions/services containing customer information, other than debt collection, IT function, internal audit, cards embossing and cheques personalization, the service providers must be licensed by the CBB and located in Bahrain. If the outsourced service is not available in Bahrain after 30th June 2017, retail banks must submit to the CBB a written request, at least within 30 days of the stated deadline. The request must provide details of the circumstances under which the extension of outsourcing activities is being requested.

Amended: January 2017
Added: July 2016