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CM-1.3.13

Past version: Effective from 01 Jun 2022 to 31 May 2022
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Islamic bank licensees which provide credit facilities to natural and legal persons in Bahrain must become members of the Bahrain Credit Reference Bureau (‘BCRB’). All enquiries for new or additional credit facilities in Bahrain must be submitted to the BCRB. BCRB members must meet the following requirements and incorporate them into their policies and procedures:

(a) Establish an electronic monitoring system to detect, monitor and maintain records and a log of all access to BCRB data by the BCRB member’s employees;
(b) Conduct a monthly internal audit on the access logs to identify unauthorised access to BCRB data by any employee without securing customer consent and report to the CBB any observed violation of Article 68 (bis (2)) of CBB Law;
(c) Require the sign off of a BCRB member’s designated employee on their legal obligations concerning the confidentiality of BCRB data and that any violation of Article 68 (bis (2)) of CBB Law would subject them to an enforcement action in accordance with CBB Law; and
(d) Cover compliance with the above requirements in the performance appraisal of relevant employees.
Added: June 2022