Regulatory Alerts2016-04-03
Added · Updated
Proposed Amendment to Remuneration Rules
The Central Bank of Bahrain proposes amendments to its 2014 remuneration rules to clarify that a substantial variable proportion exceeds 40% and permits alternative arrangements for existing contracts with lower variable pay. The updated requirements apply exclusively to new employment contracts while grandfathering pre-January 2014 agreements, though they extend to promoted staff within the same institution. Banks must submit their feedback electronically by April 3, 2016.
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