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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > High Level Standards > AU Authorisation > AU-5 Information Requirements and Processes > AU-5.1 Licensing > Granting or Refusal of License
  • Granting or Refusal of License

    • AU-5.1.12H

      To be granted a license, an applicant must demonstrate compliance with the applicable requirements of the CBB Law and this Module. Should a license be granted, the CBB will notify the applicant in writing of the fact; the CBB will also publish its decision to grant a license in the Official Gazette and in two local newspapers (one published in Arabic, the other in English). The license may be subject to such terms and conditions as the CBB deems necessary for the additional conditions being met.

      Added: July 2007

    • AU-5.1.12I

      The CBB may refuse to grant a license if in its opinion:

      (a) The requirements of the CBB Law or this Module are not met;
      (b) False or misleading information has been provided to the CBB, or information which should have been provided to the CBB has not been so provided; or
      (c) The CBB believes it necessary in order to safeguard the interests of potential customersG .

      Amended: July 2007
      Amended: October 2007

    • AU-5.1.12J

      Where the CBB proposes to refuse an application for a license, it must give the applicant written notice to that effect. Applicants will be given a minimum of 30 calendar days from the date of the written notice to appeal the decision, as per the appeal procedures specified in the notice; these procedures will comply with the provisions contained in Article 46 of the CBB Law.

      Added: July 2007

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