For example, if an Islamic retail bank is issued a license on 6 June 2007, then it would be asked to pay an annual license fee that same month, covering the remaining period left for the calendar year 2007. The fee would be calculated as BD30,000 (the minimum amount payable by an Islamic retail bank licensee, multiplied by 6/12 (the number of complete months left in the year, i.e. July to December inclusive, divided by the total number of months in the year), giving a fee liability of BD 15,000. The following year, the licensee would submit a Form ALF by end- April 2008 as normal, and calculate its fee using its audited financial numbers for 2007 (or alternative arrangements as agreed with CBB, should its first set of accounts cover an 18-month period).