CBB Volume 2: Contents

Central Bank of Bahrain Volume 2—Islamic Banks
Part A
High Level Standards
HC High-Level Controls
HC-5 Remuneration of Approved Persons and Material Risk-Takers
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HC-5.4.7

The bank's approved personsG engaged in risk management, internal audit, operations, financial controls, internal Shari'a review/audit, AML and compliance functions must be independent, have appropriate authority, and be remunerated in a manner that is independent of the business areas they oversee and commensurate with their key role in the bank. Effective independence and appropriate authority of such staff are necessary to preserve the integrity of financial risk and management's influence on incentive remuneration.

Amended: July 2014
Added: January 2014
 Versions
(2 Versions)
 
Jan 1 2014 - Jun 30 2014Jul 1 2014 onwards
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