Regulatory Alerts2017-01-26
Draft Resolution on Transfer of Business for Investment Firms – Volume 4
The Central Bank of Bahrain has issued a consultation paper establishing regulatory procedures for investment firms to transfer their business within the Kingdom under Article 68 of the CBB Law. This draft resolution defines the required application processes and compliance standards for licensees, auditing firms, and law firms executing business transfers. Firms must submit written or electronic feedback, including nil responses, to the Financial Institutions Supervision Directorate by 26 January 2017.
الملَفُّ التَّنْظِيمِيُّ لِمُؤسَّسَاتِ الْمَالِيَةِ
Executive Director of Financial Institutions Supervision
مَرْكِزُ الْبَحْرَيْنِ المَركَزي
Central Bank of Bahrain
EDFIS/C/061/2016
26<sup>th</sup> December 2016
Chief Executive Officer
All Investment Firm Licensees
All Auditing Firms
All Law Firms
Manama
Kingdom of Bahrain
Dear Sir/ Madam,
**Re: Consultation paper on the Draft Resolution on Transfer of Business for Investment Firms**
In accordance with Article 68 of the Central Bank of Bahrain and Financial Institutions Law of 2006 “CBB Law”, the Central Bank of Bahrain (“CBB”) would like to issue a regulation on the procedures for processing applications by investment firms for transferring their business in the Kingdom of Bahrain.
The consultation paper is available on the CBB website ([www.cbb.gov.bh](http://www.cbb.gov.bh)) under “Open Consultations” Section.
Your firm is kindly requested to review the above Resolution, and to provide the CBB with your comments, including ‘Nil comments’, in writing or electronically to the Acting Director of Financial Institutions Supervision Directorate, Mrs. Ebtsam Al Arrayed via email at [earrayed@cbb.gov.bh](mailto:earrayed@cbb.gov.bh) and/or CBB Consultations Team at “[consultation@cbb.gov.bh](mailto:consultation@cbb.gov.bh)” by 26<sup>th</sup> January 2017.
Yours faithfully,
Abdul Rahman Al Baker
ص.ب: ٧٧، المنامة - مملكة البحرين
هاتف: (+973) 17056454 - فاكس: (+973) 17057005
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547312/305 - Fax: (+973) 1731115
Website: www.cbb.gov.bh
E-mail: albaker@cbb.gov.bh
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