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Location: Central Bank of Bahrain Volume 1—Conventional Banks > Part A > Business Standards > BC Business and Market Conduct > BC-A Introduction > BC-A.1 Purpose
  • BC-A.1 Purpose

    • BC-A.1.1

      This Module contains requirements that have to be met by conventional bank licenseesG with regards to their dealings with customers.G The Rules contained in this Module aim to ensure that conventional bank licenseesG deal with their clientsG in a fair and open manner, and address their customersG ' information needs.

      October 07

    • BC-A.1.2

      The Rules build upon several of the Principles of Business (see Module PB (Principles of Business)). Principle 1 (Integrity) requires conventional bank licenseesG to observe high standards of integrity and fair dealing, and to be honest and straightforward in their dealings with customersG . Principle 3 (Due skill, care and diligence) requires conventional bank licenseeG s to act with due skill, care and diligence when acting on behalf of their customersG . Principle 7 (Client Interests) requires conventional bank licenseesG to pay due regard to the legitimate interests and information needs of their customersG , and to communicate with them in a fair and transparent manner.

      October 07

    • BC-A.1.3

      This Module also provides support for certain aspects relating to business and market conduct in the Bahrain Commercial Companies Law of 2001 (as amended).

      October 07

    • Legal Basis

      • BC-A.1.4

        This Module contains the Central Bank of Bahrain's ('CBB') Directive (as amended from time to time) on business conduct by conventional bank licenseesG , and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 (CBB Law). The directive in this Module is applicable to all conventional bank licenseesG .

        Amended: January 2011
        October 07

      • BC-A.1.5

        For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.

        October 07

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