Regulatory Alerts2022-08-31
Proposed Revised High-Level Controls Module (HC Module)
The Central Bank of Bahrain (CBB) proposes a revised High-Level Controls Module to replace existing Rulebook Volumes 1 and 2 requirements for all licensed banks. The updated framework strengthens regulatory oversight, with the revised module now published on the CBB website for public review. Regulated entities must submit written feedback, including nil responses, in editable format by 31 August 2022.
Office of the Governor
OG/255/2022
18th July 2022
Chief Executive Officer
All Banks
Manama
Kingdom of Bahrain
Dear Sir/ Madam,
**Consultation: Proposed Revised High-Level Controls Module (Module HC)**
As part of the Central Bank of Bahrain’s (CBB) initiatives to further enhancing its regulatory framework, the CBB is hereby proposing a revised High-Level Controls Module (Module HC) under the CBB Rulebook - Volumes 1 and 2. The proposed requirements under the revised Module HC will replace the existing Module.
The proposed revised Module will be available on the CBB website (www.cbb.gov.bh) under the “open consultations” section.
The CBB requests you to provide your comments, including “nil comments” on the proposed requirements in an editable format to consultation@cbb.gov.bh by 31st August 2022.
Yours faithfully,
Rasheed M. Al-Maraj
Governor
cc: Bahrain Association of Banks
External Auditors
ص.ب : ٢٧، المنامة - مملكة البحرين
هاتف: (+973) 1752700 - فاكس: (+973) 17537799
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547500 - Fax: (+973) 17537799
website: www.cbb.gov.bh
E-mail: governor@cbb.gov.bh
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