Regulatory Alerts2022-12-30
CBB Consultation on Revised Appointed Representative Requirements in Volume 3
The Central Bank of Bahrain (CBB) proposes amendments to Chapter GR-9 and the Glossary definition within Volume 3 of its Rulebook to update regulatory requirements for Appointed Representatives. These revisions apply to all licensed insurance firms and mandate the submission of written comments, including nil responses, by 30 December 2022. Submissions must be delivered in editable format to consultation@cbb.gov.bh prior to the publication of the finalized amendments on the CBB website.
Office of the Governor
OG/403/2022
30th November 2022
Chief Executive Officer
All Insurance Firms
Manama
Kingdom of Bahrain
Dear Sir/Madam,
**Consultation: Revised Appointed Representative Requirements**
As part of the Central Bank of Bahrain’s (CBB) objective to enhance its regulatory framework, the CBB is hereby proposing amendments to Chapter GR-9 requirements on “Appointed Representatives” of the General Requirements Module (Module GR) of the CBB Rulebook – Volume 3 to replace the existing Chapter GR-9 and to the definition of Appointed Representatives in the Glossary under Part B of the CBB Rulebook – Volume 3.
The proposed amendments will be available on the CBB website (www.cbb.gov.bh) under the “open consultations’ section.
The CBB requests you to provide your comments, including “nil comments” on the proposed amendments in an editable format to consultation@cbb.gov.bh by 30th December 2022.
Yours faithfully,
Rasheed M. Al Maraj
Governor
cc: Bahrain Insurance Association
External Audit Firms
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ص.ب : ٢٧، المنامة - مملكة البحرين
هاتف: (+973) 17054700 - فاكس: (+973) 17057744
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547500 - Fax: (+973) 17537799
website: www.cbb.gov.bh
E-mail: governor@cbb.gov.bh
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