Entire section Custom print Link Text Only Rich Text Print
  Versions

 

BC-4.20.12

Islamic retail bank licensees must treat the following balances that remain unpaid due to operational or other reasons as unclaimed balances:

(a) Unclaimed balances relating to manager cheques, demand drafts, or cashier cheques which have not been presented /claimed during their validity periods;
(b) Positive credit card balances relating to credit cards not used for a period of 1 year or more;
(c) Unclaimed cash due to failed ATM/POS or electronic transactions for a period of 1 month or more;
(d) Dividends that remained unpaid by non-listed Islamic retail bank licensees for a period of 1 year or more; and
(e) Unclaimed balances relating to investments, including undistributed profits and accrued profit for a period of 1 year or more.

 

Added: January 2022