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Location: Central Bank of Bahrain Volume 1—Conventional Banks > Part A > High Level Standards > PB Principles of Business > PB-B Scope of Application
  • PB-B Scope of Application

    • PB-B.1 Scope of Application

      • PB-B.1.1

        The 10 Principles of Business apply to all CBB conventional bank licenseesG , in accordance with Paragraph PB-B.1.2. Principles 1-8 also apply to all approved personsG , in accordance with Paragraph PB-B.1.3.

        October 07

      • PB-B.1.2

        Principles 1 to 10 apply to activities carried out by the conventional bank licenseeG , including activities carried out through overseas branches (if any). Principles 9 and 10 also take into account any activities of other members of the group of which the conventional bank licensee is a member.

        October 07

      • PB-B.1.3

        Principles 1 to 8 apply to approved personsG in respect of the controlled functionG for which they have been approved.

        October 07

      • PB-B.1.4

        Principles 1 to 8 do not apply to behaviour by an approved personG with respect to any other functions or activities they may undertake. However, behaviour unconnected to their controlled functionG duties may nonetheless be relevant to an assessment of that person's fitness and propriety.

        October 07

      • PB-B.1.5

        The CBB's requirements regarding approved personsG and controlled functionsG are located in Module LR (Licensing Requirements).

        Amended: January 2011
        October 07

    • PB-B.2 Non-compliance

      • PB-B.2.1

        Breaching a Principle of Business makes the conventional bank licenseeG or approved personG concerned liable to enforcement action. In the case of a licensee, this may call into question whether they continue to meet the licensing conditions (see Chapter LR-2). In the case of an approved personG , this may call into question whether they continue to meet the 'fit and proper' requirements for the function for which they have been approved (see Section HC-2.2).

        October 07

      • PB-B.2.2

        Module EN (Enforcement) sets out the CBB's policy and procedures on enforcement action.

        October 07

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