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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-2.6 Condition 6: Systems and Controls
  • LR-2.6 Condition 6: Systems and Controls

    • LR-2.6.1

      Conventional bank licenseesG must maintain systems and controls that are, in the opinion of the CBB, adequate for the scale and complexity of their activities. These systems and controls must meet the minimum requirements contained in Modules HC, CM and OM.

      October 2007

    • LR-2.6.2

      Conventional bank licenseesG must maintain systems and controls that are, in the opinion of the CBB, adequate to address the risks of financial crime occurring in the licensee. These systems and controls must meet the minimum requirements contained in Module FC, as specified for the Category of license held.

      October 2007

    • LR-2.6.3

      Applicants will be required to demonstrate in their business plan (together with any supporting documentation) what risks their business would be subject to and how they would manage those risks. Applicants may be asked to provide an independent assessment of the appropriateness of their systems and controls to the CBB, as part of the license approval process.

      October 2007

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