Regulatory Alerts2011-09-01
Proposed Regulation on the Conditions of Granting a License for Regulated Services
The Central Bank of Bahrain finalizes licensing conditions for regulated services by integrating licensee feedback into Module LR, making the framework applicable primarily to new applications. The regulation clarifies eligibility for natural and legal persons, mandates ongoing compliance with capital, management, and audit standards, and explicitly permits letters of comfort alongside traditional guarantees. It further establishes a mandatory twenty percent ownership threshold for banking license applicants, streamlines documentation requirements, and exempts existing licensees from the revised ownership rules.
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