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  • Initial Disclosure Requirement

    • BC-9.8.2

      An Islamic bank licensee must provide (with respect to regulated banking services), comprehensible information to customers or potential customers on:

      (a) Itself and the types of services that it can provide;
      (b) [This Subparagraph was deleted in July 2015];
      (c) Fees, costs and associated charges payable by the customer such as:
      (i)  The basis or amount of its charges, remuneration and commission for conducting regulated financial services and
      (ii)  The nature or amount of any other income receivable by it or, to its knowledge, by its associate and attributable to that regulated banking service; and
      (d) [This Subparagraph was deleted in July 2015];
      (e) Information about methods of redress.
      Amended: July 2015
      Amended: January 2011
      Added: April 2008

    • BC-9.8.3

      This Paragraph was deleted in July 2015.

      Amended: July 2015
      Amended: January 2011
      Added: April 2008