CBB Volume 1: Contents

Central Bank of Bahrain Volume 1—Conventional Banks
Part A
Business Standards
BC Business and Market Conduct
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BC-8.12.4

Conventional bank licenseesG must establish and maintain adequate policies and procedures, to ensure that:

(a) Employees involved with advising and arranging do not undertake a personal account transaction unless:
(i) The conventional bank licenseeG has, in a written notice, drawn to the attention of the employee the conditions upon which the employee may undertake personal account transactionsG and that the contents of such a notice are made a term of his contract of employment or services;
(ii) The conventional bank licenseeG has given its written permission to that employee for that transaction or to transactions generally in financial instrumentsG of that kind; and
(iii) The transaction will not conflict with the conventional bank licenseeG ’s duties to its customersG ;
(b) It receives prompt notification or is otherwise aware of each employee’s personal account transactionsG ; and
(c) If an employee’s personal account transactionsG are conducted with the conventional bank licenseeG , each employee’s account must be clearly identified and distinguishable from other customersG ’ accounts.

Added: April 2008
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(1 Version)
 
Apr 1 2008 onwards
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