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GR-5.2.1

A controller of an Islamic bank licensee is a natural or legal person who:

(a) holds 10% or more of the shares in the licensee ("L"), or is able to exercise (or control the exercise) of more than 10% of the voting power in L; or
(b) holds 10% or more of the shares in a parent undertaking ("P") of L, or is able to exercise (or control the exercise) of more than 10% of the voting power in P; or
(c) is able to exercise significant influence over the management of L or P.