MIR-2.2.10
Past version: Effective from 15 Dec 2009 to 31 Mar 2013
To view other versions open the versions tab on the right
An application for a license as a
(a) Form 2 (Information on Chief Executive Officer and Director ) and Form 3 (Information on Shareholders and Subsidiaries);
(b) Any relevant annex and information specified in those forms;
(c) A non-refundable prescribed application fee of BD100 (One Hundred Bahraini Dinars);
(d) A business plan setting forth the internal controlling procedures of the enterprise;
(e) A business plan containing a budgeted accounting plan for the first three business years;
(f) Memorandum and Articles of Association of the corporation, copies of the by-laws, its constitution and powers of management and the manner in which its business is proposed to be undertaken;
(g) Policies and procedures for regulated activities undertaken;
(h) The proposed organisation structure and the powers and duties of the persons performing controlled functions of the licensed member ;
(i) A copy of the application submitted to the licensed exchange or licensed clearing house , as the case may be and the qualification for membership;
(j) A description of the proposed trading, clearing and settlement arrangements;
(k) Arrangements for risk management, compliance and internal controls;
(l) Where regulated activities would be outsourced, copies of contracts and arrangements for oversight of their activities; and
(m) Arrangements for complying with business rules of the licensed exchange and/or licensed clearing house .
Adopted January 2010