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  • Real Time Promotions

    • BC-9.5.14

      Islamic bank licensees must not make a real time promotion to customers unless the concerned customer has been notified of the fact in advance and has agreed in writing to receive real time promotions.

      Amended: July 2015
      Added: April 08

    • BC-9.5.15

      For the purposes of Paragraph BC-9.5.14, a real time promotion is a promotion made in the course of a personal visit, telephone conversation or other interactive dialogue.

      Added: April 08

    • BC-9.5.16

      Consent to receive real time promotions could be, for instance, at the time of the initial customer profiling, by means of signing a form clearly indicating such consent.

      Added: April 08

    • BC-9.5.17

      A representative of the Islamic bank licensee must, on making contact for the first time with a customer, and again at any time when asked to do so by the customer:

      (a) Identify himself as being a representative of the Islamic bank licensee;
      (b) State the name of the Islamic bank licensee; and
      (c) Present the customer with a business card on meeting that customer, unless he has given him such a card at a previous meeting. The business card must include a statement of the Islamic bank licensee's licensing status.
      Amended October 2010
      Added: April 08

    • BC-9.5.18

      For the purposes of Rule BC-9.5.17(c), the statement on the business card should make clear the licensing status of the Islamic bank licensee; however it should not lead the customer to believe that the product being offered has been approved by the CBB. The suggested wording for the statement of licensing status is as follows: “Licensed as an Islamic retail/wholesale bank by the CBB”.

      Amended: October 2010
      Added: April 08

    • BC-9.5.19

      In oral communications with a customer, whether in person or by telephone, the representative of the Islamic bank licensee must:

      (i) Conduct himself in a polite manner and respect the wishes of the customer;
      (ii) State the genuine purpose of the call at the commencement of the conversation;
      (iii) Ascertain whether or not the customer wishes him to proceed with the conversation if the time of the conversation was not previously agreed by the customer;
      (iv) Explain clearly the financial products or other services which he is authorised to arrange;
      (v) Recognise and respect the right of the customer to terminate the call at any time; and
      (vi) If he requests another appointment and the customer refuses, shall accept that refusal courteously and in such a manner as to cause no embarrassment to the customer.
      Amended: July 2015
      Amended: January 2011
      Added: April 2008