In personal property, the transfer or possession of ownership involves many legal difficult issues. We possess and or transfer items from hand to another, however, many times we are not aware of some legal repercussions related to what we have done. We refer here, in particular, to the ancient basic
As per Trust Law in Bahrain, “Trust” is a legal relationship created by a “Settler” whereby certain “Trust Property” is held in the name of the “Trustee”. The “Trustee” shall exercise the required duties and powers in accordance with the provisions of the law and the terms of the trust.
The Trust Law in Bahrain provides, a “Trust” shall be recognized by the law of Bahrain as valid and enforceable. Based on this, a person can make a trust for certain beneficiaries. This person, “settler” appoints a qualified person, “trustee” to take care of the trust as agreed upon in
Bahrain is the first country in the area to issue a special law to govern financial trust “trust law”. The law was promulgated in 2006 and last amendment took place in 2016. This sophisticated special law, is primarily intended to help in wealth management. Many people, have wealth from diversified
Joint accounts help in many situations, by jointly concentrating earnings and expenses in a single place, you make it easier to manage your household budget or company financials. This comes as each holder enjoys full right to withdraw, deposit, and manage the funds. However, joint accounts are not hassle free,
Joint accounts can help in many situations, however, they can also complicate and generate liability. Each account holder enjoys full right to withdraw, deposit, and manage funds. Some banks assign one as the primary holder and this doesn’t change the fact everyone owns everything. Once money is deposited, all of
Banking business as a rule is based on banking laws and banking customary practices. In many cases ordifferences between banks and their customers the issue of undue influence has been raised by customers. What is the legal meaning of undue influence and what is the extent of it? This has
Islamic banking is showing a regular and steady growth in all corners, all over the globe. Many studies by different institutions gave the conclusion that the rate of Islamic banking growth reaches 25%, if not more. Islamic banking has been practiced and undertaken by pure special Islamic banks and, also,
The Organization for Economic Cooperation & Development (OECD) defined Corporate Governance as, “Corporate Governance, CG, involves a set of relationships between an entity’s management, its Board, its shareholders & other stakeholders. CG, also provides the structure through which the objectives of the entity are set, and the means of attaining
Legally speaking the positions of chairmanship & membership of the board of directors of licensed banks as public joint stock companies got their burdens and liabilities. The appointees may rejoice for such appointments and big titles for social purposes. But, as a matter of law and fact, they are actually