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CM-4.1.3

Bahraini conventional bank licensees must obtain the CBB’s written no-objection before writing-off any of the following:

(a) Exposures to, or exposures guaranteed by, any approved person of the licensee or any other CBB licensee;
(b) Exposures to controllers, subsidiaries, associates and SSB members of the licensee;
(c) Exposures to any business entity for which the licensee, or any of its approved persons, is a related party, such as a Board member, a shareholder owning 5 percent or more, a person assuming a managerial role, a guarantor, a SSB member, etc.; and
(d) Exposures to any controller of another CBB licensee (as defined in Resolution No. (16) of 2021 with respect to promulgating the Regulation Pertaining to Control in Banks).
Amended: January 2023
Added: June 2022