AU-4.1.12

Past version: Effective from 01 Apr 2016 to 31 Mar 2017
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Before the final approval is granted to a licensee, confirmation from a retail bank addressed to the CBB that the licensee's capital (injected funds) — as specified in the business plan submitted under Rule AU-4.1.4 — has been paid in must be provided to the CBB. In addition, for payment services providers and card processing companies, these licensees must provide a BD50,000 bank guarantee.

April 2016