CM-5 CM-5 Staff credit facilities
CM-5.1 CM-5.1 Reporting and compliance
CM-5.1.1
The Agency's prior written consent should be obtained for any credit facilities provided to an employee where the amount of such facility, either singly or when added to an existing facility/existing facilities outstanding to that employee at that date, would be equal to or in excess of BD 100,000 (Bahraini Dinars One Hundred Thousand), or its equivalent in foreign currency. Banks must notify the Agency in writing of any senior employee who fails to discharge his repayment obligations.
CM-5.1.2
Banks must ensure that the provisions of relevant laws (including, specifically, the Bahrain Labour Law) are observed at all times in this area.
