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Glossary History

Version DateDescription of Changes
July 2004Initial Launch Version.
July 2006Updated version, including new defined terms of retail bank and wholesale bank license sub-categories, and definitions of regulated Islamic banking services.
April 2010Updated Definition of Deposit in accordance with Resolution No. (23) of 2009 in respect of Definition of Deposit.
October 2010Amended definition for Chief Executive Officer; added definition of Executive director, Independent director; Non-executive director; Remuneration, and; senior manager/management.
January 2011Minor corrections and amendments for consistency purposes; Amended definition for approved person(s), collective investment undertaking, exposure(s), security(ies);
Added definition for accredited investor(s), acquisition(s), bond(s); capital instrument(s), close links, connected person(s), future(s), investment(s), investment analyst, investment research, licensed exchange(s); market, option(s), participant(s), personal account transaction, public offering(s), qualifying holding(s), real time promotion, retail customer(s), self-regulatory organisation(s) or SROs, soft dollar agreement, swap(s), warrants;
Deleted definition of independent non-executive director.
April 2011Amended definition of derivative, executive director, insurance licensee(s).
Corrected cross reference for Bahraini Islamic bank licensee definition.
Added definition of conventional bank licensee(s) and specialised licensee(s).
October 2011Clarified definition of independent director;
Added definition for appointed expert(s), qualified by exception.
Amended the definition of trilateral meeting.
January 2012Amended the definition of independent director.
Added definition for underwriting.
April 2012Corrected reference to cross reference for the definition of director;
Corrected typo in the definition of conflict of interest;
Updated definition of qualifying holdings to be in line with Module CM.
July 2012Added definition for Bahrain domiciled CIU(s);
Amended definition of controller to be in line with module GR.
October 2012Added definition for base rate, conspicuous notice, eligible account(s), eligible account holder(s), framework, principal, transferee and transferor.
Amended definition of Basel Committee and deposit(s) or deposit account(s).
January 2013Amended definition of financial services, public offering(s).
October 2013Updated definition of controllers to be in line with Module GR.
January 2014Added definition for clawback, malus, material risk-takers.
Amended definition of remuneration.
July 2014Amended definition for clawback.
October 2014Amended definition of Authorised money or value transfer service provider(s).
Amended definition for financial instruments trader.
Corrected cross reference for relevant authorities.
January 2015Added definition of affiliate, banking group, credit risk, financial entity, market risk, minority interest, operational risk, securitisation, subsidiary and trigger event.
Amended definition for control and price risk.
Corrected cross reference for acquisition(s).
April 2015Amended the definition of subsidiary(ies).
Deleted the definitions of head of function and qualifying holding(s).
January 2016Amended the definition of approved person(s).
April 2016Added definition for disabled customer(s).
Amended the definition of controlled function(s).
July 2016Amended definition of Politically Exposed Persons (PEPs).
October 2016Added definition of Major Investments
July 2017Deleted definition of Bahraini Islamic retail bank licensee(s).
July 2017Deleted definition of Bahraini Islamic wholesale bank licensees.
July 2017Added definition of Branches of foreign bank licensees.
July 2017Added definition of Country Risk.
July 2017Added definition of Islamic retail bank licensee(s).
July 2017Amended definition of Islamic wholesale bank licensee(s).
July 2017Deleted definition of Overseas Islamic bank licensees.
July 2017Deleted definition of Overseas Islamic retail bank licensee(s).
July 2017Deleted definition of Overseas Islamic wholesale bank licensee(s).
July 2017Added definition of Transfer Risk.
October 2017Added definition of Beneficial Owner.
October 2018Added definitions of LM Module.
December 2018Added definition of Account Information Service, Account Information Service Provider (AISPs), Originator Information, Payment Initiation Service, Payment Initiation Service Provider (PISPs).
December 2018Amended definition of Ancillary Service Provider.
April 2019Addition of definition of Digital Financial Advice.
October 2019Add definition of without delay as per FATF Requirements.
July 2020Amended definition of Independent Director.
October 2020Amended definition of Accredited investor(s).
October 2020Added point (f) to the definition of Independent Director.
January 2021Deleted definition of Framework (as used in Module OM).
July 2022Amended definition of Accredited investor(s).
January 2023Deleted definition of Exposures.
June 2025Amended definition of Beneficial Owner.
June 2025Amended definition of Politically Exposed Persons (PEPs).