CBB Volume 5: Contents

Central Bank of Bahrain Volume 5—Specialised Licensees
Specific Modules (By Type of Licensee)
Type 7: Ancillary Service Providers
Part A
High Level Standards
AU Ancillary Service Providers Authorisation Module
AU-4 Information Requirements and Processes
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The applicant must provide a description of the governance arrangement and the internal control mechanisms consisting of:

(a) a mapping of the risks identified by the applicant, including the type of risks and the procedures the applicant will put in place to assess and prevent such risks;
(b) the different procedures to carry out periodical and permanent controls including the frequency and the human resources allocated;
(c) the identity of the person(s) responsible for the internal control functions, including for periodic, permanent and compliance control, as well as an up-to-date curriculum vitae;
(d) the composition of the management body and, if applicable, of any other oversight body or committee;
(e) a description of the way outsourced functions are monitored and controlled so as to avoid an impairment in the quality of the applicant's internal controls;
(f) a description of the way any agents and branches are monitored and controlled within the framework of the applicant's internal controls;
(g) where the applicant is the subsidiary of a regulated entity in another country, a description of the group governance.
Added: December 2018
(1 Version)
Dec 1 2018 onwards
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