EN-6.1.1
Past version: Effective from 18 Jul 2025 to 30 Jun 2007
To view other versions open the versions tab on the right
Article 93 of the BMA Decree — Law No. 23 of 1973 ("BMA Law") empowers (but does not oblige) the BMA to assume the administration of a licensee in certain circumstances, subject to the approval of the Minister of Finance. These circumstances are where:
(a) the licensee has become insolvent;
(b) its liquidity or solvency are in jeopardy;
(c) its continued activity is detrimental to the rights of depositors; or
(d) it commits serious contraventions of the provisions of the BMA Law.