الملخص الإنجليزي
Study Summary :
"The limits of the bank's commitment to the principle of banking secrecy in light of the Bahraini legislation "
As banks play a big role in creating credit which assume the existence of trust- and distributing it in order to support the activity of various economic projects. The credit requires trust that can only be established within a framework of secrecy because when banks deal with clients, they collect a lot of information about them, including their various own affairs, in addition to the nature of transactions and commercial life. Due to the danger of disclosing client's information to people who are not entitled to have access to it, and the disclosure of bank secrecy and the harm this might cause to clients, therefore, we find laws imposing commitment to the banking secret, as well as criminalizing its disclosure, in order to protect the client's material and moral interests and protect confidence in banks.
The commitment to banking secrecy is considered one of the most important obligations that banks have, based on the fact that disclosure of the client's financial position is a private matter which disclosed to others cause harm to the interests of the client due to the commitment to preserve the secrets of the profession is linked to the individual's right to the sanctity of his own life; thus, the Bahraini legislator intervened as a group of rulers to preserve the privacy of individuals and impose sanctions on anyone who violates maintaining the commitment to bank secrecy.
Although the bank secrecy means prohibiting the disclosure of any information about clients which may have reached by any of the bank's employees, officials or users; however, this prohibition is not absolute, as there are special cases with which it is necessary to violate the principle of confidentiality, such as the disclosure of bank transactions of the client is to help the public authorities in the detection of a crime, the bank disclosing the client's secret in implementation of a court ruling or arbitration award, or that the disclosure is the responsibility of the bank in implementation of the provisions of a special law as it is the case with anti-money laundering laws and the duty to report any suspicious actions.
