• RM-2.8 RM-2.8 The CBB's Approach to Microfinance Credit Facilities

    • RM-2.8.1

      Licensees must implement a sound internal controls framework, including an effective credit culture (see Section RM-2.7). Licensees must display and communicate charges and the APR clearly (see Section BC-1.4).

      July 2014

    • RM-2.8.2

      The CBB requires licensees to demonstrate transparency in their dealings with their customers, as regards the costs and terms of their lending.

      July 2014

    • RM-2.8.3

      The measures presented in this Chapter should be viewed as minimum standards, rather than best practice. They are aimed at encouraging prudent lending and full, frank and fair disclosures, rather than dictating comprehensively how licensees should engage in microfinance credit facilities.

      July 2014