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To facilitate the prior approval required under Paragraph GR-3.1.1, conventional bank licenseesG subject to GR-3.1.1 must provide the CBB with:

(a) The licensee's intended percentage and amount of proposed dividends for the coming year;
(b) A letter of no objection from the bank's external auditor on such profit distribution; and
(c) A detailed analysis of the impact of the proposed dividend on the capital adequacy requirements outlined in Module CA (Capital Adequacy) and liquidity position of the bank.
Amended: October 2017
Amended: October 2011
October 07
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