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Agency Circular OG/318/95 Principles of Supervision, Operation and Marketing with respect to Collective Investment Schemes

OG/318/95

4th November, 1995

The General Manager
All FCBs, IBs, OBUs and Representative Offices
Manama
Bahrain

Dear Sir,

Principles of Supervision, Operation and Marketing with respect to Collective Investment Schemes

I now attach, for your information and attention, a copy of the above Principles, which are now issued by the Agency pursuant to Circular No. OG/356/92 dated 18th November 1992.

Unless the Agency expressly gives its permission in writing to the contrary, all banks and other financial institutions which are involved in the establishment and/or marketing of Collective Investment Schemes in/from Bahrain are henceforth required to comply in full with the attached Principles which override and supercede previous directions of the Agency in this context. Schemes, the establishment and/or marketing of which have been authorised and approved by the Agency prior to the date of this letter, and which do not comply in full with the attached Principles, should be brought to the attention of the Agency without delay. The Agency will give specific directions to relevant parties on what, if anything, the Agency requires to be done in such cases.

Any queries and/or clarifications sought in relation to the attached Principles should be directed to Mr. Anwar Al-Sadah, Director of Financial Institutions Supervision, at the Agency (Tel: 529444/445).

Yours faithfully,

Abdulla H. Saif
Governor

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