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-4.8 Dealing with Inheritance Claims > BC-4.8.1
  • BC-4.8 Dealing with Inheritance Claims

    • BC-4.8.1

      Licensees must ensure that no transfer of legal ownership of financial assets is made until they have sight of documentation (which must be duly copied for their records) from the Ministry of Justice and Islamic Affairs confirming the entitlement of a person or persons to inherit from the deceased. Such documentation must be complied with precisely. Particular care must be taken where minors (children) or other people lacking full legal capacity are named as inheritors.

      Amended: October 2012
      Amended: October 2011
      Amended: January 2011
      October 07

    • BC-4.8.2

      Without prejudice to Paragraph BC-4.8.1, financial assets may be distributed to the order of an individual provided that individual is named in a mandate, duly certified by the Ministry of Justice and Islamic Affairs, as having the permission to act on behalf of all of the inheritors.

      Amended: October 2012
      Amended: October 2011
      Amended: January 2011
      October 07

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