Regulatory Alerts2019-10-27
Added · Updated
Proposed Draft Regulation Governing Control in Bank Licensees
The Central Bank of Bahrain has issued a consultation on its proposed draft regulation to replace Resolution No. 31 of 2008, establishing updated control requirements for all domestic and foreign bank licensees. The framework mandates compliance with revised governance standards, including specific provisions for foreign banks under Article 2. Regulators require all licensed institutions to submit their feedback electronically in an editable format by October 27, 2019.
Central Bank of Bahrain
Executive Director - Banking Supervision
EDBS/KH/C/74/2019
6th October 2019
Chief Executive Officer
All Banks
Manama, Kingdom of Bahrain
Dear Sir,
Consultation: Proposed Draft Regulation Governing Control in Bank Licensees
The Central Bank of Bahrain (‘the CBB’) is issuing to all banks for their comments a draft regulation governing control in banks to replace Resolution No. (31) for the year 2008.
With regards to foreign banks, Paragraph 2 of Article (2) applies.
You are kindly requested to review the draft regulation and to provide the CBB with your comments, including ‘nil comments’ on these changes. Responses must be sent electronically, in an editable format, to consultation@cpp.gov.bh by 27th October 2019.
The draft regulation shall be available on the CBB website (www.cbb.gov.bh) under the “open consultations” section.
Yours faithfully
Khalid Hamad
Cc: Bahrain Association of Banks
ص.ب : ٢٧، المنامة - مملكة البحرين
هاتف : (+973) 17547400 - فاكس: (+973) 17532605
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547400 - Fax: (+973) 17532605
website: www.cbb.gov.bh
E-mail: khalid.hamad@cbb.gov.bh
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