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  • Requirement to be Licensed

    • CSD-1.1.1

      As per Article 40 of the CBB Law, no person shall operate or hold himself out as a licensed clearing house or licensed central depository in the Kingdom of Bahrain, unless he has been licensed by the CBB under this section.

      Amended: April 2016

    • CSD-1.1.1A

      No person may market any financial services in the Kingdom of Bahrain unless:

      (a) Allowed to do by the terms of a license issued by the CBB;
      (b) The activities come within the terms of an exemption granted by the CBB by way of a Directive; or
      (c) Has obtained the express written permission of the CBB to offer financial services.
      Added: April 2013

    • CSD-1.1.1B

      In accordance with Resolution No.(16) for the year 2012 and for the purpose of Paragraph CSD-1.1.1A, the word 'market' refers to any promotion, offering, announcement, advertising, broadcast or any other means of communication made for the purpose of inducing recipients to purchase or otherwise acquire financial services in return for monetary payment or some other form of valuable consideration.

      Added: April 2013

    • CSD-1.1.1C

      Persons in breach of Paragraph CSD-1.1.1A are considered in breach of Resolution No.(16) for the year 2012 and are subject to penalties under Articles 129 and 161 of the CBB Law.

      Amended: April 2016
      Added: April 2013

    • CSD-1.1.2

      No person shall establish, maintain, operate or hold himself out as intending to establish, maintain or operate a clearing house or central depository, without notifying the CBB of such intention at least 90 days prior to the establishment or commencement of operations of the clearing house or central depository.

    • CSD-1.1.3

      A person may apply to the CBB to reduce the period referred to in rule CSD-1.1.2 and the CBB may substitute such other period at its discretion.

      Amended: April 2016

    • CSD-1.1.4

      The CBB may require a person providing the notice period referred to in rule CSD-1.1.2 to furnish the CBB with such information or documents as the CBB considers necessary in relation to the notice.

      Amended: April 2016

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