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IC-1.5.10

Past version: Effective from 01 Jul 2018 to 31 Dec 2021
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Bahraini Islamic bank licensees must develop, commensurate with the nature, size, complexity and scale of the bank's activities, a recovery plan in line with Chapter 2 of Module DS. Recovery plans must be approved by the Board and the CBB and must be reviewed regularly. The recovery plan must include information and analysis to reflect the appropriate coverage and granularity of the recovery plan, as well as key elements including:

(a) Governance arrangements and escalation process following a triggering event;
(b) Quantitative and qualitative triggers and early warning indicators; and
(c) Recovery options based on the appropriate number of market-wide (systemic) stress scenarios and bank-specific (idiosyncratic) stress scenarios to assess which recovery options would be effective in a range of stress situations.
July 2018