CM-7.1.2

The contents of this Chapter apply to all consumer finance facilities entered into or renewed after 1 January 2005. The application date of the "Code of Best Practice on Consumer Credit and Charging" is 1 September 2007. All Islamic banks which offer consumer finace facilities to residents of Bahrain must follow the Code after 1 September 2007. Failure to observe the requirements of this Chapter or the Code may result in Enforcement Action under Module EN. The Code is attached as Appendix CM-2 in Part B of the Rulebook.