BC-9.12.4
(a) Employees involved with advising and arranging do not undertake a personal account transaction unless:
(i) The Islamic bank licensee has, in a written notice, drawn to the attention of the employee the conditions upon which the employee may undertake personal account transactions and that the contents of such a notice are made a term of his contract of employment or services;
(ii) The Islamic bank licensee has given its written permission to that employee for that transaction or to transactions generally in financial instruments of that kind; and
(iii) The transaction will not conflict with the Islamic bank licensee's duties to its customers ;
(b) It receives prompt notification or is otherwise aware of each employee's personal account transactions ; and
(c) If an employee's personal account transactions are conducted with the Islamic bank licensee , each employee's account must be clearly identified and distinguishable from other customers' accounts.
Added: April 08