Back Custom print Link Text Only Rich Text Print

  • Reserve requirements

    • BR-4.1.4a

      The Banking Services Directorate will calculate the reserve requirement of each Islamic bank licensee bank on a monthly basis using the figures reported in the monthly statistical report, Form SR-2 (see Rule BR-4.1.2 above) and will notify each bank of its required reserve (if any).

    • BR-4.1.4b

      The monthly reserve requirements will be calculated as 5% of the total of an Islamic bank licensee's BD deposits from non-banks and the BD Certificates of Deposit that it has issued to customers.

    • BR-4.1.4c

      Reserve requirements, because of their scope of coverage (cf. Rule BR-4.1.4b), generally only apply to Islamic retail bank licensees. They may apply, however, to wholesale banks, if they undertake on-shore business (cf. Section LR-1.2).