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CM-1.2.16

A properly documented credit risk policy is an essential element of, and a prerequisite for, the credit risk management process. Consistent with the Board's objectives, it assists licensee’s management in the maintenance of proper credit standards and the avoidance of unnecessary risks. Additionally, periodic internal assessment should be undertaken by the internal audit. In the case of branches of foreign banks, the credit policy, limits and the procedures are normally those that are approved by the Head Office/Regional Office.

Added: June 2022