gold and jewellery sector
A) If the licensee who engages in the sale and trade of gold and jewellery is an individual establishment or a company with only one branch, then the requirements are as follows:
1- To be fluent in reading, speaking and writing, in one of the languages (English / Arabic).
2- To pass the qualifying course specified by the competent unit of the Ministry.
In the same case above, the owner could be the compliance officer himself.
B) In the event of multiple branches, the requirements are as follows:
It is mandatory to appoint a Management Responsible Compliance Officer and a Deputy Compliance Officer, In addition to appointing a compliance officer for each branch, and the following requirements must be met:
- Requirements for appointing the Management Responsible Compliance Officer and his deputy:
1- To be a Bahraini national.
2- To be fluent in reading, speaking and writing both Arabic and English
3- To have a university qualification of at least a bachelor's degree in accounting, financial management or their equivalent.
4- To have the certificate of an anti-money laundering specialist approved by an accredited body of the competent unit of the Ministry.
5- To pass all courses specified by the relevant unit of the Ministry.
- Requirements for appointing the Compliance Officer for each branch:
1- To be fluent in reading, speaking and writing, in one of the languages (English / Arabic).
2- To pass the qualifying course specified by the competent unit of the Ministry.
Auditing sector
It is mandatory to appoint a Management Responsible Compliance Officer and a Deputy Compliance Officer, In addition to appointing a compliance officer for each branch, and the following requirements must be met:
1- To be a Bahraini national.
2- To be fluent in reading, speaking and writing both Arabic and English
3- To have a university qualification of at least a bachelor's degree in accounting, financial management or their equivalent.
4- To have the certificate of an anti-money laundering specialist approved by an accredited body of the competent unit of the Ministry.
5- To pass all courses specified by the relevant unit of the Ministry.
6- Management Responsible Compliance Officer should have at least three years of practical audit experience.
7-The deputy compliance officer and the compliance officer should have at least one year of practical audit experience.
