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  • GR-11.1 GR-11.1 Credit Facilities Extended to Related Parties

    • GR-11.1.1

      Licensees are prohibited from extending credit facilities to proprietors, partners and shareholders of the business.

      Amended: January 2013
      October 2010

    • GR-11.1.1A

      Credit facilities include but are not limited to loans and shari'a compliant financing facilities.

      Added: January 2013

    • GR-11.1.2

      Credit facilities may be extended to employees of the licensee, other than proprietors, partners and shareholders of the business.

      Amended: January 2013
      October 2010

    • GR-11.1.3

      Licensees must obtain the CBB's prior written approval for any credit facility in excess of BD15,000, extended to the employees of the business.

      Amended: January 2013
      October 2010

    • GR-11.1.4

      Licensees must obtain the CBB's prior written approval before writing-off any credit facility extended to the employees of the business.

      Amended: January 2013
      October 2010