2017-10-08

High-Level Controls Module for Ancillary Service Providers (Volume 5)

The Central Bank of Bahrain issues Module HC to establish binding high-level corporate governance standards for ancillary service provider licensees, including payment and card processing entities. The directive mandates effective board composition, independent oversight, strict conflict-of-interest management for approved persons, and robust financial reporting alongside a mandatory "comply or explain" framework. Licensees must achieve full compliance by the end of the 2017 financial year, with ongoing annual shareholder reporting and CBB enforcement ensuring sustained adherence to these governance controls.

Bahrain

Central Bank of Bahrain

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