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GR-5.1.10

In the case of overseas Islamic bank licenseesG , the CBB must be notified of any new significant ownership in excess of 50% of the issued share capital of the concerned bank as soon as the branch becomes aware of the new significant ownership. The concerned branch must provide a copy of the relevant approval by the home supervisor of the concerned bank. No other action is necessary unless the CBB makes a subsequent request for information or issues a formal direction. The CBB reserves the right to take any appropriate actions, including withdrawal of the license.

Amended: January 2011
October 2007
 Versions
(2 Versions)
 
Oct 1 2007 - Dec 31 2010Jan 1 2011 onwards
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