CM-4.1.3

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Past version: Effective from 01 Jun 2022 to 31 Dec 2022
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Bahraini Islamic 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 Section GR-5.2 – Definition of Controller).

Added: June 2022