• 
• 
• 
• 
• 
• 
• 

Regulation

The Central Bank of Bahrain (CBB) is responsible for regulating and supervising the whole of Bahrain's financial sector. Prior to the creation of the CBB in September 2006, the Bahrain Monetary Agency (BMA) had previously acted as the sole regulatory authority. The BMA was responsible, since its establishment in 1973, for regulating Bahrain's banking sector, and was subsequently given responsibility in August 2002 for regulating Bahrain's insurance sector and capital markets.

A summary of the licensing process and associated matters, such as CBB license fees and the commercial registration process, can be found in the CBB Guide to Licensing. Complete details of the CBB licensing process and requirements are prescribed in the CBB Rulebook. Each Volume contains a Module setting out the CBB's licensing requirements, with respect to the sector covered by the Volume in question, including a full description of the relevant Regulated Services.

Licensing

Article 40 of the Central Bank of Bahrain and Financial Institutions Law 2006 prescribes that no person may undertake a Regulated Service in the Kingdom of Bahrain unless licensed by the Central Bank. Anyone wishing to undertake a Regulated Service must obtain the licence prior to undertaking such activity.

The CBB offers a 'one-stop' licensing service, whereby applicants may also obtain their commercial registration from the Ministry of Industry and Commerce through the CBB.

Registration

In addition to the above licensing requirements, persons wishing to carry on the business of an insurance loss adjuster or an actuary must be registered by the CBB in order to do so.

Legislation

The laws relevant to financial services businesses operating in Bahrain are:

Central Bank of Bahrain and Financial Institutions Law 2006
BSE Law 1987
Commercial Companies Law 2001
AML Law 2001
Financial Trust Law 2006