Central Bank of Bahrain

OG/297/2024
15th October 2024

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Chief Executive Officer
All Banks
All Trust Service Providers
All Fund Administrators
All Law Firms
All External Audit Firms
Bahrain Association of Banks
Manama - Kingdom of Bahrain

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Dear Sir/ Madam,

Proposed Amendments to Resolution No. (33) regarding the conditions and licensing procedures of undertaking trustee services

As part of the Central Bank of Bahrain’s (“CBB”) objective to develop the financial sector, the CBB is hereby issuing a consultation on proposed amendments to the Resolution No. (33) of 2018 regarding the conditions and licensing procedures of undertaking trustee services.

The CBB is introducing the concept of "managed trust companies" as a new category "C" trust service provider. This model is a well-accepted business model in many of the reputable trust jurisdictions.

Accordingly, you are requested to provide your comments, including “nil comments” on the draft Resolutions in an editable format to consultation@ccb.gov.bh by 20th October 2024.

The draft resolutions in Arabic and English languages shall be available on the CBB website (www.cbb.gov.bh) under the “Open Consultations” Section.

Yours faithfully,

Khalid Humaidan
Governor

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هاتف: +973 1754 7500، +973 1754 7555، فاكس: +973 1753 7799، P.O. Box 27, Manama, Kingdom of Bahrain, www.cbb.gov.bh T +973 1754 7500, +973 1754 7555, F +973 1753 7799, P.O. Box 27, Manama, Kingdom of Bahrain, www.cbb.gov.bh