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-5.4.39

In reference to Paragraph HC-2.2.6, for greater certainty, approved personsG are not allowed to take any benefits from any projects or investments which are managed by the Islamic bank licenseeG or promoted to its customers or potential customers except for board related remuneration (declared as per Paragraph HC-2.4.1) linked to their fiduciary duties to the investors of the project/investment. This Rule applies to all approved personsG including those appointed as members of the board of special purpose vehicles or other operating companies set up by the Islamic bank licenseeG for projects or investments.

Added: January 2014
 Versions
(1 Version)
 
Jan 1 2014 onwards
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