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Past version: effective from Oct 1 2007 - Dec 31 2010.
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All new controllers or prospective controllersG (as defined in Section GR-5.2) of a Bahraini conventional bank licensee 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 controller according to the Approval Process outlined in Section GR-5.4 and GR-5.1.6.

October 07
(3 Versions)
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