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BC-9.9.5

In determining whether an Islamic bank licensee has taken reasonable care to provide the best overall price for a customer in accordance with Rules BC-9.9.2 to BC-9.9.4, the CBB will take into account whether an Islamic bank licensee has:

(a) Executed orders promptly and sequentially;
(b) Discounted any fees and charges previously disclosed to the customer;
(c) Disclosed the price at which an order is executed; and
(d) Taken into account the available range of price sources for the execution of its customers' transactions. In the case where the Islamic bank licensee has access to prices of different regulated financial markets or alternative trading systems, it must execute the transaction at the best overall price available having considered other relevant factors.
Added: April 08