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Past version: effective from Oct 1 2010 - Jun 30 2011.
To view other versions open the versions tab on the right.

This Module applies to all specialised licenseesG including branches of licenseesG incorporated outside of Bahrain, and Bahrain-incorporated subsidiaries of overseas groups. Certain parts of this Module may not be relevant to some licensees'G business. Some transactions may not involve the opening of account relationships, however whenever a transaction takes place with another party or the licenseeG acts as an introducer or intermediary in a transaction or business relationship, then this Module becomes effective. Representative office licenseesG are exempted from: FC-2, FC-3, FC-4 and FC-6 because of the limited nature of their business. The scope provided for simplified customer due diligence requirements – as set out in Section FC-1.10 – will reduce the burden of customer due diligence for a number of specialised licenseesG .

October 2010
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