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Location: Central Bank of Bahrain Volume 1—Conventional Banks > Part A > High Level Standards > LR Licensing Requirements > LR-2 Licensing Conditions > LR-2.1 Condition 1: Legal Status
  • LR-2.1 Condition 1: Legal Status

    • LR-2.1.1

      The legal status of a conventional bank licenseeG must be:

      (i) A Bahraini joint stock company (BSC); or
      (ii) A branch resident in Bahrain of a conventional bank incorporated under the laws of its territory of incorporation and authorised as a bank in that territory.
      Amended: October 2010
      October 2007

    • LR-2.1.2

      Where the conventional bank licenseeG is a branch of a foreign bank, in deciding whether to grant a license, the CBB will pay close regard to its activities elsewhere and how these activities are regulated. If the conventional bank licenseeG is not regulated elsewhere or in a jurisdiction not substantially compliant with Basel Core Principles or FATF standards, then an application for licensing can only be considered after exhaustive enquiries into the bank's shareholders, management structure and financial position.

      Amended: July 2017
      October 2007

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