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Glossary History

Version DateDescription of Changes
October 2010Initial Launch
December 2010Added definition of home supervisor, representative office manager or "Rep Manager"; regulated representative office services; amended definition of controlled function; director(s), representative office or representative office licensee(s)
January 2011Added definition of administrator(s) licensee(s)/license, client assets, close links, executive director, lead supervisor, non-executive director(s), registrar, regulated administration services, remuneration, subsidiary undertaking;
Amended definition of appointed expert(s), controller(s), fund administrator, money changer, outsourcing, qualified by exception, regulated services, representative office manager, shareholders.
April 2011Amended definition of executive director
April 2012Added definition of licensed exchange(s), market, regulated investment services, reputational risk, service level agreement(s), succession plan.
Amended definition of executive director, overseas licensee(s), subsidiary or subsidiary undertaking.
January 2013Added definition for financial services, person.
Added definition of branch(es), connected person(s), family, financial instrument(s), financing company licensee(s), independent director, regulated financing company service(s) and regulated insurance services.
Added definition of core capital, gearing ratio and liabilities.
Added definition for regulated ancillary services.
Added definition for Collective investment undertakings.
January 2014Added definition for associate(d), Bahrain domiciled CIU(s), base rate, conspicuous notice, eligible beneficiary(ies), framework, intra-group outsourcing, leverage ratio, liquid assets, maturity mismatch ratio, NIM, option(s), principal, qualifying liabilities, ROAE, ROAA, regulated microfinance service, small business(es) (SMEs), stock liquidity ratio.
Amended definition for director(s), head of function, microfinance institution(s) or microfinance institution licensee(s), parent undertaking or parent.
October 2014Corrected cross reference to relevant authorities.
April 2016Added definition for ancillary service provider(s) or ancillary service provider licensee(s), card processing or card processing service(s), core capital (for ancillary service providers), credit information, credit reference bureau, credit report, members of the credit reference bureau.
Amended definition for approved persons, Chief Executive, Chief Executive Officer or CEO, close links, general manager, head of function.
July 2016Amended definition of Politically Exposed Persons (PEPs).
October 2017Added a definition for Beneficial Owner.
October 2017Added a definition for Crowdfunding Platform Operator.
December 2018Added new definitions for terms relevant to 'open banking' including, Account Information Service, Account Information Services Provider, Payment Initiation Service, Payment Initiation Services Provider, Payment Instrument and Licensee Maintaining Customer Accounts.
December 2018Added definition of Accredited Investor and Expert Investor.
January 2019Added definition of Originator Information.
October 2019Amended the definition of 'Regulated ancillary services'.
October 2019Added definition of 'without delay'.
July 2020Amended definition of ‘Independent director’.
October 2020Added point (f) in definition of ‘Independent director’.
July 2021Amended definition of ‘Payment Instrument(s)’.
April 2023Added definition of client money.
April 2023Added definition of client money account.
June 2025Amended definition of Beneficial Owner.
June 2025Amended definition of Politically Exposed Persons (PEPs).