Company Details Form - C - BMI

BMI Bank B.S.C.(c.), Bahrain World Trade Center,
P.O. Box 350, Manama, Kingdom of Bahrain
T +973 17 508080
F +973 17 226641
Private Banking Client Notification and Terms of Business
BMI Bank B.S.C (c) (“the Bank”), a joint stock closed company incorporated under the laws of the Kingdom of Bahrain registered
with commercial registration number 55436 and authorized, regulated and bound by The Central Bank of Bahrain (CBB) regulations
and licensing conditions, under license no. FCB/034, whose address is at:
World Trade Center, East Tower, 16 th Floor
P.O. Box 350, Manama, Kingdom of Bahrain
Tel: +973 17 508080, Fax: +973 17 131035
1. General
Definitions:
“Applicable Rules” means (a) the rules of the CBB; (b) the rules
of any market regulatory body that supervises the Bank services;
(c) the Bank’s internal policies and procedures; and (d) all other
laws, rules and regulations in force from time to time.
“Customer” means the clients of the Bank who are investing in
the private banking products.
“Events of Default” has the meaning attributed to it in Clause 5.
“Material Adverse Change” means an event or circumstance
which (when taken alone or together with any previous event or
circumstances) constitutes:
• a material adverse change in the international financial
markets; or
• a material adverse change in the political, social or economic
situation in the country where the Customer/Bank is located;
or
• an adverse change to the validity, legality or enforceability
of any document.
“Real Time Promotions” means a promotion made in the
course of a personal visit, telephone conversation or other
interactive dialogue.
“Services” means the services rendered by the Bank in
accordance with Clause 2 of these terms of business and which
fall under the scope of CBB license.
“Settlement” means to close the transaction by paying
the transaction amount or receiving purchased securities in
stipulated time period.
“Settlement date” means the date by which an executed
security trade must be settled. On settlement date the buyer
must make payment and seller must deliver the security.
“Transaction” means an agreement between a buyer and seller
to exchange an asset or services for payment.
“Transaction Confirmation” means the official notification of
a trade or deal done on behalf of the Customer detailing the
Transaction and the net transaction amount.
2. Services
2.1 The Bank may provide Services which include, but are not
limited to, brokerage services, derivatives products, structured
products, fixed income securities, leveraged products, trading
activities, leveraged financing and the arrangement of deals
in all kinds of securities, including executing transactions in
units in unregulated collective investment schemes. Unless
the Bank expressly otherwise agrees in writing, it shall not be
responsible for managing or supervising the management of
any of the Customer’s investments.
2.2 The Customer acknowledges and agrees that the
transactions stipulated herein are related to sophisticated
private banking products and is aware of the risks associated
therein and in these Terms of Business. The Customer shall
not be entitled to request the Bank to provide investment
advice relating to a Transaction or make any statement
of opinion to encourage the Customer to enter into a
particular Transaction. Consequently, trade ideas, research,
other communication, market information, advice or
recommendations that the Customer may receive from time
to time are not, unless it is clearly stated to the contrary,
presented as being suitable to its specific circumstances
and should not be taken as a recommendation to make
guaranteed profit making trades.
2.3 However, the Bank may in its absolute discretion seek
additional information or other confirmation in relation to
the transaction, as the Bank thinks fit and without having
to give any reason for doing so, refuse to provide particular
services or activities.