CM-6.1.3
Past version: Effective from 01 Oct 2007 to 31 Mar 2008
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Banks should also obtain the CBB's prior written approval before writing off any of their following claims:
(a) claims on present or former Directors of the bank;
(b) claims which are guaranteed by a Director of the bank;
(c) claims on any business entity for which the bank or any of its Directors is an agent;
(d) claims on any officer or employee of the bank, or any other person who receives remuneration from the bank;
(e) claims on any business entity in which the bank (or any of its Directors, officers or other persons receiving remuneration from the bank) has an interest as a shareholder, Director, manager, agent or guarantor; and
(f) claims on any person who is a Director, manager or officer of another bank licensed by the Central Bank.
October 07