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CM-1.5.2

In developing their credit administration areas, conventional bank licensees must ensure:

(a) The efficiency and effectiveness of credit administration operations, including monitoring documentation, contractual requirements, legal covenants, collateral etc.;
(b) The accuracy and timeliness of information provided in management information systems (‘MIS’);
(c) Adequate segregation of duties;
(d) The adequacy of controls over all ‘back office’ procedures; and
(e) Compliance with prescribed policy and procedures, as well as applicable laws and regulations.
Added: June 2022