CBB Volume 1: Contents

Central Bank of Bahrain Volume 1—Conventional Banks
Part A
Business Standards
BC Business and Market Conduct
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Location: Central Bank of Bahrain Volume 1—Conventional Banks > Part A > Business Standards > BC Business and Market Conduct > BC-8 Investment Business Activities > BC-8.6 Accepting Customers > Terms of Business
  • Terms of Business

    • BC-8.6.2

      Conventional bank licenseesG must provide their retail customersG with their terms of businessG , setting out the basis on which the regulated banking servicesG are to be conducted (see also Paragraph BC-8.8.13).

      Amended: January 2011
      Added: April 2008

    • BC-8.6.3

      The terms of businessG in relation to providing regulated banking servicesG as defined in Paragraph BC-8.2.1 to a retail customerG must take the form of a customer agreementG .

      Amended: January 2011
      Added: April 2008

    • BC-8.6.4

      The terms of businessG must include the rights and obligations of parties to the agreement, as well as other terms relevant to the regulated banking servicesG . The terms of businessG must include, but are not limited to, the items included in Paragraph BC-8.13.2.

      Added: April 2008

    • BC-8.6.5

      An application form in relation to regulated banking servicesG will be deemed to be a customer agreementG , provided the form includes the principal terms and conditions of the service, such that the customerG is provided sufficient information to allow him to understand the basis on which the service is to be conducted.

      Added: April 2008

    • BC-8.6.6

      The customer agreementG must be provided in good time prior to providing the regulated banking serviceG .

      Added: April 2008

    • BC-8.6.7

      For the purposes of Rule BC-8.6.6, ‘good time’ should be taken to mean sufficient time to enable the customerG to consider properly the service or financial instrumentG on offer before he is bound.

      Added: April 2008

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