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RM-2.9.2

If early repayment charges are imposed by the licensee, the CBB imposes a ceiling on the early repayment charges on microfinance credit facilities as follows:

(a) 1% of the outstanding credit facility amount or BD20 whichever is lower;
(b) The ceilings on the charges have a retroactive effect i.e. covering existing and new credit facilities; and
(c) Licensees must not charge any remaining interest/profit amount if prepayment is made.
July 2014