BC-4.20.3

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Islamic retail bank licensees must treat customer accounts as dormant accounts in the following cases:

(a) Current and call accounts, where there have been no transactions initiated by the customer for a period of 12 months; or

(b) Unrestricted investment Accounts (savings accounts) with no fixed maturity dates of any type, where there have been no transactions for a period of 24 months; or

(c) Unrestricted investment accounts and other accounts which have fixed maturity dates where there has been no claim or renewal request for a period of 6 months from the maturity date.

Added: January 2022