Regulatory Alerts2014-01-19
Volume 5 Module TC (Training and Competency) for Financing Companies
The Central Bank of Bahrain issued this draft Module TC to establish mandatory training and competency standards for financing company licensees regarding individuals in controlled functions. The module requires a minimum of 15 annual continuing professional development hours, five-year retention of training and recruitment records, and strict application of the qualifications and experience criteria in Appendix TC-1. Incorporating industry feedback, the regulator confirmed these obligations extend to board members and non-employees while preserving discretionary approval authority for candidates who demonstrate overall fitness.
Share