CBB Volume 2: Contents

Central Bank of Bahrain Volume 2—Islamic Banks
Part A
High Level Standards
LR Licensing Requirements
LR-1 Requirement to Hold a License
LR-1.3 Definition of Regulated Islamic Banking Services
LR-1.3.4
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LR-1.3.4

For the purposes of Rule LR-1.3.1, carrying on a regulated Islamic banking serviceG by way of business means:

(a) Undertaking for commercial gain, at a minimum, either or both of the activities of accepting Shari'a money placements/deposits and managing Shari'a profit-sharing investment accounts, together with the activity of offering Shari'a financing contracts; in addition, any of the remaining activities specified in Rule LR-1.3.1 may also be undertaken;
(b) Holding oneself out as willing and able to engage in such activities; or
(c) Regularly soliciting other persons to engage in transactions constituting such activities.
Amended October 2010
October 2007
 Versions
(2 Versions)
 
Apr 1 2008 - Sep 30 2010Oct 1 2010 onwards
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