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BC-A.3.3

The most recent changes to this Module are detailed in the table below:

Summary of Changes

Module Ref. Change Date Description of Changes
BC-4.1 01/01/05 New minimum balance and charges regulations.
BC-4.7 01/10/05 Streamlined notification requirements regarding new products.
BC-7 01/04/06 Margin trading rules and guidance.
BC-A.1 10/2007 New Rule BC-A.1.4 introduced, categorising this Module as a Directive.
BC-8 04/2008 New conduct of business requirements for Investment Business
BC-4.9 04/2008 New requirement to comply with Code of Best Practice on Consumer Credit and Charging.
BC-7.2 07/2009 Removal of numerical restrictions related to margin trading requirement.
BC-8.5.17 10/2010 Clarified the wording of Rule by replacing the term "legal" with "licensing".
BC-A.1.4 01/2011 Clarified legal basis.
BC-1.1.13 01/2011 Corrected reference to Ministry of Industry and Commerce.
BC-8 01/2011 Changes made to reflect new definitions related to licensed exchange(s).
BC-1.1.11 04/2011 Clarified retention period of records for promotional schemes.
BC-3.1.1 and BC-4.3.1 04/2011 Minor amendments to clarify Rules.
BC-A.2.2 10/2011 Added new Section to list of activities covered by this Module.
BC-4.7.3 10/2011 Deleted Paragraph. Reduced notification requirements on new or expanded products and facilities.
BC-4.8.2 10/2011 Updated name of Ministry of Justice and Islamic Affairs.
BC-4.10 10/2011 Added new Section on transaction advice.
BC-8.11 and BC-9 10/2011 Replaced Section BC-8.11 dealing with complaints and added Chapter BC-9 Customer Complaints Procedures in line with results of consultation and made it applicable to all regulated banking services.
BC-9 01/2012 Minor corrections to correct typos and clarify language.
BC-9.3.9 01/2012 Paragraph deleted as it repeats what is in Paragraph BC-9.3.7.
BC-6.1.6 04/2012 Cross reference added.
BC-6.1.10 and BC-6.1.11 04/2012 Rule clarified and split into one Rule and one Guidance Paragraphs.
BC-8.2.1 04/2012 Corrected cross reference.
BC-1.2 07/2012 Added Section on Advertisements for retail banking products and services
BC-4.3 07/2012 Corrected cross reference.
BC-8.5.12A 07/2012 Added guidance to clarify promotion material from banks.
BC-9.1.3A 07/2012 Added guidance on the appointment of the customer complaints officer.
BC-1.1.2 10/2012 Added cross reference to advertising requirements under Section BC-1.2.
BC-4.3 10/2012 Section amended to reflect outcome of consultation on disclosure of interest/profit rate fees and charges by retail banks.
BC-4.8 10/2012 Amended to make Rules clearer.
BC-6.1.2 10/2012 Clarified process for applications for the installation of off-site ATMs.
BC-4.4 01/2013 This Section was deleted and requirements are now covered under Section FC-1.6.
BC-1.2.2 04/2013 Corrected cross reference.
BC-4.3.2 04/2013 Clarified Rule on instances when customers must be kept informed of charges.
BC-8.9.14 and BC-8.9.16(e)(v) 04/2013 Clarified Rules on allocations.
BC-9.7 07/2013 Additional details provided on reporting of complaints.
BC-4.2.15 10/2013 Corrected cross-reference.
BC-5.3 10/2013 Updated penalty charges on dishonoured cheques.
BC-6.3 01/2014 Added new Section on local ATM network charges.
BC-4.11 04/2014 Added new Section on donations to NGO accounts.
BC-4.12 10/2015 Added new Section on credit check reports.
BC-A.2.2, and BC-10 04/2016 Added new Section on Measures and Procedures for Services Provided to Disabled Customers by Bahraini retail banks.
BC-6.3 04/2016 Amendment to local ATM charges.
BC-6.1.6 07/2016 Deleted reference to Ministry of Interior.
BC-4.7 10/2016 Clarified Rules on notification for new or changes to customer products and facilities.
BC-4.10.1 10/2016 Amendment to Transaction Advice
BC-4.10.2 10/2016 Deleted Paragraph
BC-7.2.5 10/2016 Rectified term 'Credit Reference Bureau'
BC-5A 01/2017 Added new Section on Return Policy – Post-Dated Cheques
BC-10.1, BC-10.2 and BC-10.3 04/2017 Amended Paragraphs to clarify applicability of Rules.
BC-5.3.1 07/2017 Amended Paragraph to include penalty charges on returned cheques for the reason of Insufficient Funds.
BC-4.1 04/2018 Deleted Section on "Minimum Balance and Charges on Savings Accounts".
BC-4.13 04/2018 Added new Section on "Fees and Charges for Services Provided to Individuals".
BC-5.3.2 04/2018 Deleted Paragraph on "Dishonoured Cheques".
BC-6.2 04/2018 Deleted Section on "GCC ATM Network Charges".
BC-6.3 04/2018 Deleted Section on "Local ATM Network Charges".
BC-4.14 10/2018 Added a new Section on Fees and Charges for Services Provided to Companies under Formation.
BC-11 10/2018 Added a new Chapter on Financial Advice Programme.
BC-4.3.22 01/2019 Amended Paragraph on disclosure of charges by retail banks.
BC-4.3.24 01/2019 Amended Paragraph on disclosure to individual customers.
BC-4.3.25A 01/2019 Added a new Paragraph on rounding off in transactions.
BC-4.13.2 01/2019 Added a new Paragraph on waived fees and charges.
BC-4.15 07/2019 Added a new Section on Interest on Credit Card Transactions.
BC-4.16 10/2019 Added a new Section on Interest on Credit Facilities.
BC-6.1 10/2019 Deleted Section.
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