The Principle of the Current Account Indivisibility in the Bahraini and Comparative Legislation
Dr. Nasiem Khalid Alshawawreh

The principle of non-fragmentation of the current account is an important principle governing the legal system of the current account, and this study is designed to examine the concept of the principle of non-fragmentation of the current account and its consequences, as no payment in the account may be considered to be the fulfilment of another payment in it, nor may the payments in the account be cleared while operating, and therefore no payment may be claimed in the account before it is closed. However, the introduction of these results on their release may be counterproductive to the total creditors, particularly in the face of the bad faith debtor, by the possibility of seizing the balance of the account, and the possibility of extracting a temporary account balance to determine the financial position of the account and to reduce the overstatement of the amount of indebtedness, the possibility of filing a non-effective action suit in order to protect creditors, and the possibility of correcting certain account items to reduce disputes before the courts over the plaintiffs' requests. The study therefore found a set of recommendations in this regard as a result of researching comparative legislation compared to the position of the Bahraini legislator. One of the most important of these recommendations is the need to clarify the position of the Bahraini legislator on the net of payments entering the current account, where their characteristics change once they enter the account, and to reduce the period granted to correct the current account error as a result of error, omission or repetition of a restriction on the stability of transactions as soon as possible.

Full Text: PDF     DOI: 10.15640/jlcj.v9n2a6