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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > High Level Standards > GR General Requirements > GR-1 Books and Records > GR-1.2 Customer and Transaction Records > Customer Records > GR-1.2.3
  • Customer Records

    • GR-1.2.1

      Insurance licenseesG must keep records with respect to all customerG relationships that remain active or potentially active. These records must be in hard copy or in original form, and retained for at least ten years after a customerG relationship has terminated.

      Amended: October 2007

    • GR-1.2.2

      CustomerG records include original account opening and due diligence documentation including identification information, sufficient to confirm compliance with all statutory and regulatory Know Your Customer requirements (see Module FC).

    • GR-1.2.3

      The requirement in Paragraph GR-1.2.1 applies to all customerG facilities booked in Bahrain by the licensee or where a customerG relationship is administered from Bahrain. Licensees may not use record-keeping systems outside Bahrain for customerG business booked in Bahrain, except for back-up purposes only.

    • GR-1.2.4

      For captive insuranceG , where the customersG are limited to related companiesG , the due diligence requirement does not apply.

      Amended: January 2007

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