CP-1.1.3
The Board should consist of the following persons, whose period of membership of the Board (other than in the case of the person referred to in Paragraph CP-1.1.3(e) below) should be for a three year renewable period:
(a) Two representatives of the CBB, who shall be appointed by the Governor of the CBB, one of whom should be Chairman of the Board;
(b) Four representatives of commercial banking firms in Bahrain, who should be appointed by the Governor of the CBB following consultation with the Bankers' Society of Bahrain;
(c) One representative of each of the Ministries of Finance, of Justice and Islamic Affairs, and of Commerce, who should be appointed by their Ministers;
(d) One representative of the Bahrain Chamber of Commerce and Industry, who should be appointed by the President thereof; and
(e) Upon a retail banking licensee becoming a relevant bank in accordance with Section CP-1.2, and for the purpose of the operation of the Scheme in the case of that relevant bank only, the liquidator of such relevant bank.
Amended: January 2011
October 07
October 07