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  • Display of rates by conspicuous notice

    • PD-4.1.2

      The Agency requires all FCBs to display, by a conspicuous notice, their current effective rate of interest on consumer loans. This requirement does not extend to overdrafts or revolving credit facilities such as credit cards.

    • PD-4.1.3

      'Consumer loans' are defined in CM-8.3.2.

    • PD-4.1.4

      'Conspicuous notice' means a written statement in both Arabic and English languages which is easily visible and legible and is displayed in all FCB premises open to the public.

    • PD-4.1.5

      FCBs are given discretion as to how the current effective rate of interest is expressed as a calculation (e.g. as a 'base rate' or as a range of rates) as long as the conspicuous notice provides real and meaningful information to the customer.