Display of rates by conspicuous notice
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
PD-4.1.2
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
The Central Bank requires all retail banks 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.
October 07PD-4.1.3
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
'Consumer loans' are defined in CM-8.3.2.
October 07PD-4.1.4
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
'Conspicuous notice' means a written statement in both Arabic and English languages which is easily visible and legible and is displayed in all retail banks' premises open to the public.
October 07PD-4.1.5
This version of Module PD was replaced in April 2008. Click here for the current Module PD.
Retail banks 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.October 07
