The Bank is under the supervision of the CBB and complies with Decree Law No. (4) of 2001 and its amendments (collectively, “the AML Law”) with respect to the Prevention and Prohibition of the Money Laundering.
The CBB has adopted and is compliant with the recommendations issued by the Financial Action Task Force (“FATF”), which are the international standards, for effective anti-money laundering regimesand the requirements of the Basel committee (Customer Due Diligence for Bank’s paper, that are relevant to conventional bank licensees.
The Kingdom of Bahrain is a member of the Gulf Cooperation Council (GCC), which is a member of FATF. The Kingdom of Bahrain is also a member of MENAFATF, which is an associate member of FATF.
The Bank will conduct its business in conformity with high ethical standards and will adhere to all laws and regulations pertaining to financial institutions.
The Bank will conduct its business in compliance with the following general principles: