MAE-5.3.6 [Version from 1 October 2008 to 31 March 2016]
The CBB may refuse an application for approval on any of the following rounds without giving the
(a) The person is an undischarged bankrupt, whether in Bahrain or elsewhere;
(b) The person has been convicted, whether in Bahrain or elsewhere, of an offence:
1. Involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; and
2. Punishable with imprisonment for a term of 3 months or more.