CRA-15.2.8
A
(a) They are suitably qualified to assume the position including having the relevant experience and track record in managing the business and affairs of the digital token issuer ;
(b) They have not been disqualified to be a director by a court, regulator or any other competent authority;
(c) There is no pending criminal charge against the person in any court of law, whether within or outside Bahrain, for an offence involving fraud, integrity, dishonesty or mismanagement of an entity;
(d) They have not had any civil enforcement action initiated against them by any court of law or other competent authority, whether within or outside Bahrain;
(e) They have not:
(i) Been convicted, whether within or outside Bahrain, of an offence involving fraud, integrity, dishonesty other criminal conduct;
(ii) Been convicted of an offence under the securities laws or any other laws within or outside Bahrain relating to the capital market;
(iii) Contravened any provision of any law relating to a financial sector or companies in general, whether within or outside Bahrain involving dishonesty, incompetence, negligence, misconduct or malpractice;
(iv) Engaged in any business practices appearing to the CBB to be deceitful, oppressive or otherwise improper, whether unlawful or not, or which otherwise reflect discredit in the method of conducting business;
(v) Engaged in or has been associated with any other business practices or otherwise conducted himself in such a way as to cast doubt on his competence and soundness of judgement; or
(vi) Engaged in or has been associated with any conduct that cast doubt on his/her ability to act in the best interest of investors, having regard to the reputation, character, financial integrity and reliability.
Added: April 2023