FC-1.6.1
Past version: Effective from 01 Jan 2018 to 31 Dec 2018
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(a) The customer is the Central Bank of Bahrain ('CBB'), the Bahrain Bourse ('BHB') or a licensee of the CBB;
(b) The customer is a Ministry of a Gulf Cooperation Council ('GCC') or Financial Action Task Force ('FATF') member state government, a company in which a GCC government is a majority shareholder , or a company established by decree in the GCC;
(c) The customer is a company listed on a GCC or FATF member state stock exchange with equivalent disclosure standards to those of the BHB;
(d) The customer is a financial institution whose entire operations are subject to AML/CFT requirements consistent with the FATF Recommendations and it is supervised by a financial services supervisor in a FATF or GCC member state for compliance with those requirements;
(e) The customer is a financial institution that is a subsidiary of a financial institution located in a FATF or GCC member state, and the AML/CFT requirements applied to its parent also apply to the subsidiary; or
(f) [This Subparagraph was deleted in January 2018].
(g) The transaction is a long-term insurance contract, either taken out in connection with a pension scheme relating to the customer's employment or occupation, or contains a no surrender clause and cannot be used as security for a loan.
Amended: January 2018
Amended: October 2015
Amended: January 2007
Amended: October 2015
Amended: January 2007