Regulatory Alerts2013-11-21
Training and Competency Module for Islamic Wholesale Banks
The Central Bank of Bahrain issues the Training and Competency Module for Islamic wholesale banks, mandating that individuals in controlled functions meet specific qualification and experience criteria while grandfathering existing appointees. The framework requires all designated staff to complete a minimum of 15 hours of annual Continuous Professional Development, which can be fulfilled through conferences, workshops, or internal training. Additionally, the module clarifies role definitions for board members and functional heads, permits electronic record-keeping to reduce administrative burdens, and aligns controlled functions with broader licensing requirements.
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