BAHRAIN: Consultation on Bahrain substantial acquisitions in investment and insurance businesses

Friday September 27 2013

The Central Bank of Bahrain has published a consultation paper on approval procedures for acquisitions in investment firms and insurance undertakings for Bahrain substantial acquisition rules.

The proposed regulations specify the nature and limits of control and the conditions that may be imposed by the CBB in approving an application for control in an investment business firm and an insurance licensee.

Under the draft rules, approval will be required on becoming a Controller (10% shareholder), and on a shareholding exceeding the following thresholds:

* 20%

* 30%

* 40%

The draft regulations also establish the assessment criteria which must be used by the CBB on reviewing a request for approval.

The consultation is open until 24th October 2013.

Click on the above link for the draft regulations.