HC-2.2.2
Board candidates must:
(a) Possess the knowledge, skills, experience and, particularly in the case of non-executive directors, independence of mind necessary to discharge their responsibilities on the Board in light of the licensee’s business and risk profile;
(b) Have a record of integrity and good repute;
(c) Have sufficient time to fully carry out their responsibilities;
(d) Not have any conflicts of interest that may impede their ability to perform their duties independently and objectively and subject them to undue influence from:
i. Other approved persons , controllers or other connected parties;
ii. Past or present positions held; or
iii. Personal, professional or other economic relationships with other approved persons (or with other entities within the group); and
(e) Not have more than two directorships of financial institutions inside Bahrain. However, two directorships of investment firm licensees would not be permitted. Investment firm licensees may approach the CBB for exemption from this limit where the directorships concern financial institutions within the same group.
Added: July 2023