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Past version: effective from Oct 1 2007 - Sep 30 2011.
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Condition 3 of the CBB's licensing conditions specifies, among other things, that conventional bank licenseesG must satisfy the CBB that their controllersG are suitable and pose no undue risks to the licensee (See Paragraph LR-2.3.1). There are also certain procedures which are set out in Articles 52 to 56 of the Central Bank of Bahrain and Financial Institutions Law (Decree No. 64 of 2006) ("CBB Law") on Controllers. Licensees and their controllers must also observe the CBB's Capital Markets requirements in respect of changes in holdings of shares of listed companies. There are differing requirements for locally incorporated licensees ("Bahraini conventional bank licenseesG ") and branches of foreign banks ("overseas conventional bank licenseesG "). The requirements of this Chapter apply in their entirety to Bahraini conventional bank licenseesG . Requirements for overseas conventional bank licenseesG are less onerous and are outlined in paragraph GR-5.1.10.

October 07
(3 Versions)
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