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GR-5.3.1

All new controllersG or prospective controllersG (as defined in Section GR-5.2) of a Bahraini conventional bank licenseeG must obtain the approval of the CBB. Any increases to existing controllers'G holdings or voting control (as outlined under paragraph GR-5.1.5) must also be approved by the CBB and are subject to the conditions outlined in this Section. Such changes in existing controllersG (as defined in the Section GR-5.2) or new/prospective controllersG of a conventional bank licenseeG must satisfy the CBB of their suitability and appropriateness according to the criteria outlined in Paragraphs GR-5.3.6 to GR-5.3.8. The CBB will issue an approval notice or notice of refusal of a controllerG according to the approval process outlined in Section GR-5.4 and Paragraph GR-5.1.6.

Amended: October 2011
Amended: January 2011
October 07
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