Custom print

BC-9.8.2

Past version: Effective from 01 Jan 2011 to 30 Jun 2015
To view other versions open the versions tab on the right

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) Whether it is acting as agent or principal;
(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;
(d) Financial instruments and proposed strategies and appropriate guidance on and warnings of the risks associated with those financial instruments and strategies; and
(e) Information about methods of redress.
Amended: January 2011
Added: April 2008