HC-2.4.2

The board of a Bahraini conventional bank licensee should establish formal procedures for:

(a) Periodic disclosure and updating of information by each approved person on his actual and potential conflicts of interest; and
(b) Advance approval by directors or shareholders who do not have an interest in the transactions in which a conventional bank licensee's approved person has a personal interest. The board should require such advance approval in every case.
Amended: July 2016
October 2010