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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-2.2 Condition 2: Mind and Management
  • LR-2.2 Condition 2: Mind and Management

    • LR-2.2.1

      Conventional bank licenseesG with their Registered Office in the Kingdom of Bahrain must maintain their Head Office in the Kingdom. Branches of foreign conventional bank licenseesG must maintain a local management presence and premises in the Kingdom appropriate to the nature and scale of their activities.

      Amended: July 2017
      October 2007

    • LR-2.2.2

      In assessing the location of a conventional bank licensee'sG Head Office, the CBB will take into account the residency of its Directors and senior management. The CBB requires the majority of key decision makers in executive management — including the Chief Executive OfficerG — to be resident in Bahrain. In the case of branches of foreign bank licensees, the CBB requires the branch to have a substantive presence, demonstrated by a level of staff and other resources sufficient to ensure adequate local scrutiny and control over business booked in the Bahrain branch or subsidiary.

      Amended: July 2017
      October 2007

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