Regulatory Alerts2023-10-03
Draft Resolution on Regulating Security Rights over Accounts at Financial Institutions and Eligible Securities
The Central Bank of Bahrain has issued a draft resolution to regulate security rights over financial institution accounts and eligible securities under the Secured Transactions Law. The regulator requires all addressed licensees, listed companies, audit firms, and law firms to submit their feedback, including nil responses, in editable format by 3 October 2023. Stakeholders may review the full proposal on the CBB website and direct their submissions to the designated consultation email address.
Central Bank of Bahrain
مَعْرِفَةُ البحرين المَلَكِيّة
EDFIS/C/025/2023
19th September 2023
Chief Executive Officer
All Banks
All Investment Firm Licensees
All Financing Company Licensees
All Microfinance Institution Licensees
All Payment Service Provider Licensees
Self-Regulatory Organisations (SROs)
SRO Members
All Listed Companies
All Audit Firms
All Law Firms
Manama
Kingdom of Bahrain
Dear Sir/Madam,
**Consultation: Draft Resolution on Regulating the Security Right over Accounts at Financial institutions and Securities**
With reference to the draft Secured Transactions Law, the CBB is hereby issuing for consultation the draft CBB resolution on regulating the right of security over accounts at financial institutions and eligible securities, which shall be available on the CBB website (www.cbb.gov.bh) under the “open consultations” section.
All licensees to whom this circular is addressed, all listed companies, audit firms and law firms are requested to provide their comments, including “nil comments”, on the proposed law in an editable format to consultation@cbb.gov.bh by 3rd October 2023.
Yours faithfully,
Abeer Al Saad
Executive Director of Financial Institutions Supervision
c.c.: Bahrain Association of Banks.
هاتف +973 1 754 7777، فاكس +973 1 753 0399، ص.ب 27، المنامة، مملكة البحرين
T +973 1 754 7777, F +973 1 753 0399, P.O. Box 27, Manama, Kingdom of Bahrain, www.cbb.gov.bh
Share