BC-1.1.4
(a) Adequate systems and documented procedures are in place that describe the checks and balances to ensure fair play, impartiality and the inclusion of eligible participants as well as for informing participants of the results of a raffle/lottery without delay;
(b) They are subject to the rules and requirements (including prior authorisation/approval) laid down by the Ministry of Industry, Commerce and Tourism;
(c) The raffle draw date of the announced prize/incentive/campaign is disclosed in advance to the public and that other subsequent announced prize/incentive/campaign follow the same approach. Raffle dates must not be postponed unless a valid reason is stated/indicated;
(d) The winner(s) report includes the winner's name, CPR number, mobile number and the number of chances (e.g. tickets/ certificates) in the draw;
(e) Each draw of the raffle/lottery held as part of the bank’s promotional scheme is independently verified and monitored/witnessed by the bank’s internal auditor and, additionally, draws involving prizes of BD 10,000 or above in aggregate must be independently verified and monitored/witnessed by the bank’s external auditors;
(f) An annual check and a comprehensive audit on the “raffle draw” system is conducted by the external IT auditor. In addition, a detailed report in this regard from such auditor must be submitted to the CBB within 3 months from year-end and a copy is sent to the consumer protection department in the Ministry of Industry, Commerce and Tourism; and
(g) The internal auditor periodically reviews, at least annually, all promotions, raffles/lotteries in addition to the systems, procedures, processes and related operational risks.
Amended: January 2022
Amended: April 08
Added: October 07
Amended: April 08
Added: October 07