Introduction

The Regulatory lobbying will consolidate a dominant view across the impacted members across the industry. BAB is focusing on creating issue specific task forces with member banks that drive ownership of the issue or regulatory consultation. The task force can source through leadership to develop its position

Returned Cheques

On 17 November, BAB hosted a breakfast meeting to discuss the issue of “Returned Cheques”. Some of our members are facing issues when filing police reports against clients whose checks are returned from other banks with the reason of “Refer to Drawer”.

Public Prosecution does not accept this reason for a returned checks and, as a result, requests clarification from the issuing bank through the Police Department. This process takes one to two months before Public Prosecution accepts the case and recommences the legal proceedings.

Result from CBB/ BAB Meeting

BAB board of directors reviewed the result of lobbying regulations with the CBB in a meeting held in the presence of board members and other leading figures in banks and financial institutions of Bahrain.

Blocking System- User Operating Guidelines

BAB organized a breakfast meeting, as per the request of the Governor of the CBB, to discuss the Blocking System- User Operating Guidelines. All banks in attendance sent BAB a letter outlining their requirements from the Legislation and Legal Opinion Commission (LLOC). BAB combined this into a single document, and was sent to the Governor of the CBB. The meeting was held on 19 September at BAB office.

EFTS

BAB organized a breakfast meeting to discuss the new Electronic Funds Transfer Services Fees chaired by Mr Matthew Deakin CEO of HSBC. Members agreed to share their per transaction costs, which will be presented together to the CBB to request a revision of the fees structure which would allow members to make a profit. The meeting was held at BAB office on 28 September.

The financial Sector Court

BAB held a meeting on the 8th Dec to drive an independent legal system (Courts, Public Prosecution, Implementation Court and others) for the financial sector. We did some initial investigation on the exciting system locally and internationally. Accordingly, we would like to take the matter further by having this meeting with your head of legal department. The purpose of the meeting was to draft a unique structure that speedup court cases and promote Bahrain through such a professional legal system.

Financial Sector Court Meeting

On 31 Jan 2017, BAB hosted the second financial sector court meeting to follow up with the first meeting which was held on 8 Dec 2016. This meeting discussed the first meeting resolutions and come out with a final draft structure for the financial sector court.