CBB Volume 1: Contents

Central Bank of Bahrain Volume 1—Conventional Banks
Part A
Business Standards
BC Business and Market Conduct
BC-4 Customer Account Services and Charges
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Location: Central Bank of Bahrain Volume 1—Conventional Banks > Part A > Business Standards > BC Business and Market Conduct > BC-4 Customer Account Services and Charges > BC-4.3 Disclosure of Charges by Retail Banks > Disclosure to Individual Customers: During the Term of the Credit Agreement > BC-4.3.25
  • Disclosure to Individual Customers: During the Term of the Credit Agreement

    • BC-4.3.24

      Retail banks must, at the time of signing the credit agreement, give the clients information on the payment schedule of the credit agreement, including the breakdown of principal, interest and other charges per month for the whole life of the facility. Information must be given, free of charge, at least on a semi-annual basis, unless the period of debt servicing is shorter or where there exists a prior agreement on a more frequent basis.

      Amended: January 2019
      Added: October 2012

    • BC-4.3.25

      In addition to the requirements under Paragraph BC-4.3.24, when credit is granted through credit cards or overdraft facilities, monthly statements must be provided and include information on minimum payment.

      Added: October 2012

    • BC-4.3.25A

      Retail bank licensees must, when billing their customers, reflect the card transactions without rounding off the amounts in Fils. Retail bank licensees must collaborate with acquirers and Visa/MasterCard network schemes to ensure that there is no rounding off in any transaction irrespective of the currency of the transaction.

      Added: January 2019

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