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-8.13.2

The minimum information that should be contained in the terms of business includes:

(a) The regulatory status of the conventional bank licenseeG ;
(b) A statement that the licensee is bound by the CBB's regulation and licensing conditions;
(c) The licensee's name, address, e-mail and telephone number;
(d) A statement of the products and services provided by the licensee, as permitted by the CBB;
(e) The total price to be paid by the customerG to the conventional bank licenseeG for its services, or, where an exact price cannot be indicated, the basis for the calculation of the price enabling the customerG to verify it;
(f) Information on any rights the parties may have to terminate the contract early or unilaterally under its terms, including any penalties imposed by the contract in such cases;
(g) Where appropriate, the customer'sG investment objectives;
(h) Where appropriate, the extent to which the conventional bank licenseeG will consider the customers'G personal circumstances when considering suitability (as required under Section BC-8.7) and the details of such matters that will be taken into account;
(i) Any conflict of interest disclosure as required by Section BC-8.12;
(j) Any disclosure of soft dollar agreementsG under Section BC-8.12;
(k) A statement that clearly indicates the following:
(i) The customer'sG right to obtain copies of records relating to his business with the licensee;
(ii) The customer'sG record will be kept for 5 years or as otherwise required by Bahrain Law; and
(l) The name and job title, address and telephone number of the person in the conventional bank licenseeG to whom any complaint should be addressed (in writing) by the customerG .
Added: April 2008
 Versions
(1 Version)
 
Apr 1 2008 onwards
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